Cox Automotive forecasting 39.1 million for year
3.2 Million used-car sales likely for October
Thursday October 26, 2017
Article Highlights
- Cox Automotive pegged the September used-car SAAR at 40.4 million, up from 38.1 million in August.
- Through nine months of the year, used retail sales were beating year-ago figures by 2 percent.
- The company is forecasting 39.1 million used retail sales for full-year 2017.
Used-vehicle retail sales have continued tracking at an annual pace near 39 million units, according to a sales forecast released this week by Edmunds.
The company is projecting 3.2 million used-car sales for October, which would be even with September.
The seasonally adjusted annualized rate for used sales in October would be 38.9 million units, up slightly from the 38.8 million-unit annual pace last month, Edmunds said.
In other analyses, Cox Automotive pegged the September used-car SAAR at 40.4 million, up from 38.1 million in August.
Through nine months of the year, used retail sales were beating year-ago figures by 2 percent, a Cox Automotive spokesperson said in an email earlier this month. The company is forecasting 39.1 million used retail sales for full-year 2017, he said.
In an analysis, Cox Automotive estimates that there was an 8-percent year-over-year hike for used-car sales in September.