Tuesday, October 24, 2017

Vehicle Forecast: Sales Expected to Exceed 17 million SAAR in October

by Bill McBride on 10/24/2017 04:38:00 PM

The automakers will report October vehicle sales on Wednesday, Nov 1st.

Note: There are 25 selling days in October 2017, there were 26 selling days in October 2016.

From WardsAuto: U.S. Forecast: October Auto Sales Rate Flat with Prior-Year

A WardsAuto forecast calls for U.S. automakers to deliver 1.31 million light vehicles in October. A daily sales rate of 52,579 units over 25 days is nearly equivalent to like-2016’s 52,584 units for 26 days.
...
The report puts the seasonally adjusted annual rate of sales for October at 17.55 million units, behind year-ago’s 17.80 million and prior-month’s 18.48 million mark.
emphasis added
Sales had been below 17 million SAAR for six consecutive months, until September, when sales spiked due to buying following Hurricane Harvey. Sales in October were probably also elevated due to the hurricanes.