New-vehicle sales for 2017 should reach 17.1 million, which would make 2017 the fourth-highest year on record and signals continuing robust health in the automotive industry, according to Kelley Blue Book.
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The average transaction price for a new vehicle in November was $35,870, a 1.6% rise from the same time last year, according to Kelley Blue Book.
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New vehicle sales are expected to reach 1.36 million units in November, a 1% drop from the year before, and an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book.
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Transaction prices continue to rise at a slower pace, with October’s estimated average transaction price expected to rise by $101 from a year ago to $35,263, Kelley Blue Book (KBB) reported on Tuesday. Compared to September, the firm expects the average to increase by $128, or 0.4%.
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New-vehicle sales are expected to decline 2% year-over-year to 1.34 million units in October, resulting in an estimated 17.9 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book (KBB).
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The new-vehicle retail sales forecast for October is pointing toward a strong month in year that has under performed compared to the year before it, according to a forecast developed by J.D. Power and LMC Automotive.
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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.
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The demand for replacement vehicles has already started, and experts say it will continue well into October, and possibly November, as insurance payouts are received.
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Through the first eight months of this year, a total of 11,308,631 new-vehicles have been sold, a 2.8% decline compared to the same time last year, according to Kelley Blue Book’s Monthly Light Vehicle Sales Report.
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Households have set a new nominal record for debt, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights. This, the report added, is a sign that consumer confidence is high and that credit is readily available
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