Despite economic turmoil and increasing fears of a double-dip recession, sales of new vehicles continued to hold steady during September, according to preliminary industry estimates.
For September 2011, new light vehicle sales in the U.S., including fleet, are expected to be somewhere between 1.04 and 1.06 million units, depending on whose data you trust. Either way, that would bring a roughly 10% jump from year-earlier numbers.
While “The uncertain global environment, specifically the debt troubles in Europe, continue to be the major source of downside risk” to the U.S. economy and auto sales, in particular, said John Humphrey, chief of automotive operations at J.D. Power and Associates, his associate Jeff Schuster found that, “Coming off a solid Labor Day sale, retail sales exhibited unexpected strength in the second week of September, as the recovering inventory levels have helped to bring buyers back into the market.”