This October as predicted is another month to set low U.S. car sales. The car sales numbers will fall below the same month a year ago despite a relatively high level of incentives car sales are especially on the decline, as opposed to trucks, a category that includes pickups, SUVs, crossover SUVs and minivans.
Based on online shopping, we are expecting total U.S. auto sales, including cars and trucks, to fall about 6% in October. The fact that October 2016 had fewer official “selling days” than October 2015, and sales were especially strong a year ago contributed to a poor year-ago comparison. Through September, light-truck sales accounted for about 60% of total sales year to date. That was an increase from 56% a year ago. The average new-vehicle retail transaction price was on a record pace for October of more than $31,000. The previous high was $30,921, in October 2015. Incentive spending averaged $3,726 per unit through the first part of October, up 12% from October 2015.
