September Looks Like Another Huge Month For US Auto Sales

According to J.D. Power and LMC Automotive, 952,200 new vehicles will be sold in September.  This translates to a seasonally adjusted annualized rate of 11.8 million, up 12 per cent from a year ago.

“Retail sales in early September were 15 per cent higher than they were a year ago, which is reflective of a healthy market,” said John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates. “We expect retail sales to level off through the rest of the month, but still maintain a strong share of total sales.”

Check it out:

jd power september

Photo: J.D. Power — LMC Automotive

Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles, the firm claims.

Most major segments–with the exception of the midsize utility and large pickup segments–are expected to show year-over-year retail sales gains in September, according to the firm’s release.

The sub-compact conventional, compact conventional and midsize conventional segments each are expected to show retail sales growth of at least 25 per cent, compared with September 2011, the firm said.

saar

Photo: JD Power

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.