September auto sales highest this year

September vehicle sales are expected to reach a new high this year thanks to a combination of Labor Day discounts and higher incentives, according to Edmunds.

“Labor Day weekend got September auto sales off to a strong start,” said Jessica Caldwell, Edmunds executive director of industry analysis. “Automakers are finally starting to dial up the incentives to clear excess inventory, which we anticipate will continue through the rest of the year.”

The company believes approx. 1,435,375 new cars and trucks will be sold in the U.S. in September, leading to an estimated seasonally adjusted annual rate (SAAR) of 17.5 million.

This number represents the highest SAAR in 2017 — slightly ahead of January and February’s respective SAAR of 17.3 million. It also reflects a 0.4 per cent increase in sales from September 2016.

As for retail, Edmunds estimates that SAAR will “come in at 15.0 million vehicles in September 2017, with fleet transactions accounting for 14.0 percent of total sales.”

Forecasts also suggest that approx. 3.19 million used vehicles will be sold in September this year for a SAAR of 38.8 million. This is compared a SAAR of 39.0 million in August 2017.

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