Car sales poised for double-digit growth in October - Latest Cars Wallpapers

According to J.D. Power, retail sales of new vehicles will climb 13 percent to 943,200 units this month. Moreover, October's seasonally adjusted annualized rate (SAAR) for retail vehicles is expected to top 12 million units, which would be the second consecutive month for that achievement. That hasn't happened since April and May of 2008.

"The October retail sales pace is solidifying an accelerating recovery in the automotive market," said Deirdre Borrego, vice president and general manager of U.S. Automotive Operations at J.D. Power and Associates. "Each month, we're seeing stronger signs of a healthy market, not only in terms of sales volumes, but also in dealer inventories, transaction prices and incentive levels."

Overall sales are expected to grow 11 percent to 1,134,800 units in October. Of those total sales about 17 percent will be to fleet customers, which is slightly below the five year average of 19 percent for October.

Thanks to October's strong sales, LMC Automotive has increased its 2012 sales forecast from 14.3 million units to 14.4 million units.
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Source: Leftlanenews