As automotive sales have been strong throughout 2013, it's no surprise the trend is expected to continue through September.
According to a report from J.D. Power and LMC Automotive, new-vehicle sales are projected to hit 933,400 units by the end of month, marking a 2 percent increase when compared to last year and translating to a seasonally adjusted annualized rate of 12.4 million units. The report noted that the sales would have been much stronger, but since there were fewer selling days in the month and Labor Day sales counted toward August, the fact that there were still increases is a positive sign.
"Although the year-over-year sales gain in September is smaller than has been observed in recent months, it's important to recognize that September reported sales are being heavily influenced by a quirk on the industry sales calendar," said John Humphrey, senior vice president of the global automotive practice at J.D. Power.
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