TROY, Mich.–(BUSINESS WIRE)–J.D. Power:
The Retail Sales Forecast
New-vehicle retail sales in September are expected to be up from a year ago, according to a joint forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to reach 1,157,800 units, a 3.4% increase compared with September 2019. Reporting the same numbers without controlling for the number of selling days translates to an increase of 12.4% from a year ago. While the increase vs. September 2019 is substantial, it’s important to recognize that it is being aided by the industry sales reporting calendar. September 2020 contains two additional selling days than September 2019 and has the added benefit from promotional activity related to the Labor Day weekend, which last year fell into August sales reporting.
The Total Sales Forecast
Total sales in September are projected to reach 1,288,100 units, a 7.5% decrease from September 2019. Reporting the same