Edmunds forecasts that approximately 1.4 million new cars and trucks will be sold in September across the United States, for an estimated seasonally adjusted annual rate of 17.5 million, according to a company announcement.
This amount, the company added, represents a 2.9% decrease from the month before and a 0.4% increase from the same time last year.
Edmunds analysts attribute most of the small year-over-year bump in sales to the success of Labor Day deals; however, they also note that September sales are expected to receive a bump from buyers needing to replace vehicles that were destroyed in the recent hurricanes.
“We anticipate that the recovery from the recent hurricanes will give vehicle sales an incremental boost in September, and will likely continue to slightly lift the market in the months to come,” said Jessica Caldwell, Edmunds executive director of industry analysis. “When you have hundreds of thousands of people affected by an event of this magnitude, not everyone will hit the market at once.”
Meanwhile, the used car segment is expected to see approximately 4% less units sold in September. Edmunds forecasts that approximately 3.19 million used cars will be sold in the month compared to 3.33 million the year before.