At least 3.2 million used-car sales likely for October
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CARY, N.C. –
When the clock strikes midnight on Halloween, the pre-owned side of the car business may been in for a treat.
Industry observers have released their expectations for used-car sales in October, calling for figures well above 3 million units.
TrueCar said used-car sales could approach 3.29 million units for the month, which would be a 10.5-percent year-over-year increase.
Edmunds.com is forecasting about 3.2 million used-car sales this month, which would translate to a 38.7 million SAAR. Those would be even with September figures, according to Edmunds.
Both Edmunds’ and TrueCar’s forecasts include sales from independent and franchised dealers plus private-party sales.
On a dealer level, the latest quarterly presentation from Cox Automotive chief economist Tom Webb — citing the National Automobile Dealers Association — predicts that franchised dealers will sell more than 15 million used units this year, while independents will sell more than 14 million.
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Both of those figures would be up from 2015 and continue multi-year growth patterns.
