Online auto shopping and research site TrueCar.com says October light vehicle sales in the U.S. (including fleet) will be around 1,035,042 units, up 9% from October last year and down 1.7% from last month.
The October 2011 forecast translates into a Seasonally Adjusted Annualized Rate (SAAR) of 13.4 million new car sales, up from 13.1 million in September 2011 and up from 12.2 million in October 2010.
The industry average incentive spending per unit will be approximately $2,669 in Oct. 2011, which represents an increase of 0.6% from September and up 4.6% from October 2010.
“Consumers are no longer dragging their feet on new vehicle purchases as they feel the economy is moving in the right direction,” said Jesse Toprak, Vice President of Industry Trends and Insights for TrueCar.com. “This will be the fifth straight month where SAAR will rise and the highest we’ve seen in over two years.“