Used-Car Sales Predictions Coming In Above 3M

With used-car sales predictions coming in at above 3 million and new-car sales expected to achieve the best October seen since 2007, it seems trouble in Washington, D.C., earlier this month didn’t affect the industry too much.
TrueCar.com revealed its predictions Monday, announcing it expects used-car sales to reach 3.5 million units.
The ratio of new-to-used is estimated to be 1-to-3, according to TrueCar.
This comes on the heels of the used-car sales projection from Edmunds.com last week, in which it predicted an estimated 3.06 million used cars will be sold in October, for a SAAR of 35.6 million (compared to 3.02 million — or a SAAR of 36.3 million — used car sales in September)
According to CNW research, industry-wide used sales (franchised and independent dealer figures plus private-party sales) are expected to climb 1.5 percent and reach 3.09 million units this month.
And it seems new-car sales are on track for an impressive month, as well.
TrueCar is predicting the strongest October new-car sales market in six years. This month, new light vehicle sales in the U.S. (including fleet) are expected to reach 1.2 million units, up 14.2 percent from October 2012 and up 9.5 percent from September, according to TrueCar data.
This translates to a SAAR of 15.6 million.
“The government shutdown turned out not to be a factor in October sales,” said Jesse Toprak, senior analyst forTrueCar.
“A combination of factors, including low interest rates, attractive lease specials and great products continued to bring customers to showrooms in healthy numbers this month.”
Retail sales are up 0.6 percent year-over-year and a slight 0.1 percent from September.
And TrueCar.com expects fleet and rental sales are expected to make up 16.3 percent of total industry sales this month.
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