Edmunds Offers Take on Monthly Used Sales
Edmunds Offers Take on Monthly Used Sales; Chrysler to Notch Best New Market Share in Year
September draws to a close this weekend, ending what appears to have been a rather solid month for used-vehicle sales, according to Edmunds.com.
The company is anticipating 3.13 million used sales for the month, which would be relatively static compared to the 3.14 million used sales in August. Compared to September 2011, it would be a 2.35-percent gain, Edmunds noted.
Edmunds' projections follow forecasts from CNW Research and TrueCar, which projected 3.49 million used sales and 3.42 million used sales, respectively.
On the new-car side of the market, Edmunds projects there will be 1.15 million sales for the month, besting last September by 8.8 percent. This translates into a seasonally adjusted annualized rate of 14.4 million.
At this rate, new-car sales would align with Edmunds' latest full-year forecast (14.4 million sales).
"There's a feeling among dealers and automakers that car sales are easing into cruise control, and that's a good feeling for an industry that's felt more than its share of bumps in the last few years," says Edmunds.com senior analyst Jessica Caldwell. "This month's results offer more evidence that car buyers are finding the right signs to jump back into the market."
Edmunds is forecasting a fleet share of 17 percent and an 11.9 million unit retail SAAR.
Breakdown by OEMs
Within the new-car sales performances of the largest OEMs, perhaps the highlight of the month was Chrysler.
Though its projected year-over-years sales hike is not as strong as others, the Big 3 automaker is expected to command its largest market share in a year (Edmunds anticipates a 12.1 percent share for Chrysler).
Projected to see the biggest gains in sales from September 2011 are Toyota (up 32.2 percent) and Honda (up 28 percent), respectively. Chrysler leads the Big 3 with an anticipated hike of 8.4 percent, according to Edmunds.