Forecasters from Edmunds.com and TrueCar.com are expecting auto companies to post very strong auto sales for October, up to a seasonally adjusted annual rate of 13.4 million vehicles. That’s well above the 12.2 million annual rate a year ago, and higher than the 13.1 million SAAR in September.
In fact, it would be the highest annual rate since August 2009 during the government’s “Cash for Clunkers” program.
Chrysler and Nissan (NSANY) are expected to have the two largest jumps in sales, according to TrueCar.com.
But Edmunds.com warns that the sales increase could be short-lived.
“October’s sales numbers are certainly a bright spot in a sluggish economy, but it would be a mistake to believe that this momentum is the ‘new normal,’” said Jessica Caldwell, senior analyst at Edmunds.com. “Unless early holiday incentives inspire droves of buyers in November, we don’t expect sales to increase on the same trajectory as we have seen in the last two months.”
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