Cox Automotive Forecast: October New-Vehicle Sales Expected To Slow For Sixth Straight Month

-U.S. vehicle deals in October are estimate to slow for a 6th sequential month as low stock and excessive costs keep on compelling the business.

 – Annual vehicle deals pace in October is relied upon to complete close 11.8 million, down from last month’s 12.2 million speed and well beneath last October’s initial COVID recuperation speed of 16.4 million. 

– October deals volume is relied upon to fall almost 30% from one year prior and finish close to 950,000 units, the most reduced October result since the Great Recession.

October U.S. automobile deals are conjecture to be hit hard by supply constraints from the chip deficiency, bringing about a new depressed spot for the 2021 market. As per a gauge delivered today by Cox Automotive, the business pace, or occasionally changed yearly rate (SAAR), in October is relied upon to tumble to 11.8 million units, down from September’s 12.2 million speed and down from the October 2020 speed of 16.4 million.

Deals volume in October is relied upon to endure a huge shot too and tumble to only 950,000 units, down almost 30% from October 2020 and down almost 6% from September. There is one less selling day this October contrasted with last year, however two a greater number of days than September. In any case, with supply levels so low, the quantity of deals days will insignificantly affect the month’s outcomes.