Autos: September Car Dealership Sales Expected to Drop 13%
Market Forecast for September Autos
The number of new cars sold in the U.S. in September 2024 is expected to be less than in September 2023. However, experts highlight that there are good reasons why this drop in car dealership sales is not bad news for buyers.
Sales Projections and Analysis
J.D. Power and GlobalData project retail and non-retail new vehicle purchases for September 2024 to be 960,500 units, marking a 13.2% decline from September 2023's figures of 1,129,659 units. The primary reason behind this decrease is attributed to the timing of the Labor Day weekend, which affects the sales calendar.
Understanding Selling Days
Car dealerships typically operate with limited selling days. For example, September 2024 had 23 selling days compared to 26 selling days in September 2023. This reduction means fewer opportunities for sales, impacting overall performance metrics.
Adjusted Sales Numbers
- September 2024 sales projected down by just 1.8% when considering selling days.
- Experts suggest a balanced market despite the headline-grabbing decline.
- Buyers should remain optimistic about car dealership options and pricing.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.