SANTA MONICA, Calif. (10/2/14)--Car sales in September are expected to beat out their year-ago levels by 11%, the car shopping website Edmunds.com reported, largely thanks to consumers seeking out low-cost financing and leases.
Edmunds forecasts that 1,261,380 new cars and trucks will be sold nationwide during the month, for an estimated seasonally adjusted annual rate (SAAR) of 16.5 million automobiles.
An estimated 2.95 million used cars will be sold in September as well, Edmunds said, for an SAAR of 36.3 million, just ahead of August's pace.
"September sales are consistent with the strength we've seen most of this year," said Jessica Caldwell, senior analyst for Edmunds.com. "But topline sales aren't as interesting as the ways in which shoppers have driven those sales. Buyers have been able to secure low-financing deals and have responded to lease offers in record numbers. These behaviors bode well for the continued strength of new car sales."
Both Kelley Blue Book and Edmunds project that nearly every major carmaker will post significant gains for the month (FoxBusiness.com Oct. 1).
Further, while August's boom in auto sales was driven by incentives to buy midsize cars, September brought good deals on pickup trucks, according to DailyFinance.com (Oct. 1).
The second half of the year often bodes well for automakers, as pickup sales climb, gas prices stabilize and unemployment and consumer confidence improve, the financial news site said.