Big boost in September auto sales expected
Analysts expect the auto industry to post very good sales numbers on Monday.
IHS Global Insight automotive analyst Rebecca Lindland says September was a very good month at car dealerships. She says the number of car buyers increased last month. At the same time, Honda and Toyota were finally able to get more vehicles to showrooms, as the disruptive effects of last March’s earthquake and tsunami began to fade.
“There is just an awful lot of people on the sidelines. And with the improvement in inventory levels…I think we could start to see…some of the selling rates improve…as we go through the fourth quarter," says Lindland.
Lindland says many people buying new cars and trucks now are doing so because their old vehicles are just that…old. She says the average age of vehicles on the road now is over 10 years old. Lindland says that’s the highest ever.