The summer doldrums may finally be coming to an end, at least as far as the auto industry is concerned, several industry analysts are reporting.
A preliminary estimate calls for overall volumes to reach an annualized sales rate of 11.8 million, according to the California market research firm J.D. Power and Associates. That compares with 11.5 million during sluggish August, and just 9.2 million in September 2009 – a 29% year-over-year gain.
What may be more significant is the probability that, if Power’s forecast proves true, the retail portion of the market will reach an annualized 9.7 million, the strongest it has been in two years – excluding August 2009, when the government’s heavily-subsidized Cash-for-Clunkers program sent consumers racing into U.S. showrooms.