×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: auto | sales | demand | jd power | cars | vehicles

JD Power, LMC: US Auto Sales to Rise 3.3% as Demand Recovers

JD Power, LMC: US Auto Sales to Rise 3.3% as Demand Recovers
(Gkuna/Dreamstime)

Friday, 25 September 2020 11:31 AM

The pace of U.S. auto sales is expected to rise 3.3% in September from the prior month, helped by strong consumer demand and the Labor Day holiday, industry consultants J.D. Power and LMC Automotive said on Friday.

The seasonally adjusted annual sales pace for September is expected to be 15.7 million vehicles, up from 15.2 million vehicles in August, but down from 17.3 million units a year earlier, the consultants said.

U.S. auto sales have bounced back since hitting a pandemic-fueled bottom in April, leading major automakers to ramp up production and boost weak inventories at dealerships.

However, rising COVID-19 cases in the U.S. states have increased the uncertainty over a speedy economic recovery.

"Lockdown measures are now fairly loose in many parts of the world, but a risk of the reintroduction of more restrictive and widespread measures certainly cannot be ruled out," said Jeff Schuster, president of the Americas operations and global vehicle forecasts at LMC Automotive.

Total sales in September are projected to reach about 1.29 million units, compared with about 1.33 million units in August, and about 1.28 million units a year earlier, the consultants said. 

© 2022 Thomson/Reuters. All rights reserved.


Economy
The pace of U.S. auto sales is expected to rise 3.3% in September from the prior month, helped by strong consumer demand and the Labor Day holiday, industry consultants J.D. Power and LMC Automotive said
auto, sales, demand, jd power, cars, vehicles
189
2020-31-25
Friday, 25 September 2020 11:31 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved