September Car Sales May Look Shaky, Edmunds Predicts
- September car sales may drop, but a calendar anomaly is the culprit, Edmunds explains.
- Monthly sales are expected to snap a 27-month streak of year-over-year gains dating back to June 2011.
- The decline is due to how sales were recorded in 2012 versus 2013.
SANTA MONICA, California — September car sales may drop, but a calendar anomaly is the culprit, Edmunds explains.
Monthly sales are expected to snap a 27-month streak of year-over-year gains dating back to June 2011. The projected sales will be a 23.8 percent decrease from August 2013 and a 3.7 percent decrease from September 2012.
"It looks like sales took a big hit in September, but the monthly SAAR (Seasonally Adjusted Annual Rate) is up year over year, and the industry is still selling more cars per day than it did last year," said Jessica Caldwell, an Edmunds senior analyst. "Many of the fundamentals that have driven strong car sales over the last year are still in place, and we can expect them to contribute to a solid final quarter to close out 2013."
The decline is due to how sales were recorded in 2012 versus 2013.
Labor Day weekend sales were included in September 2012, but Labor Day sales counted toward August in 2013. It's interesting to note that September 2013 had 23 selling days, September 2012 had 25 and August 2013 had 28.
Hyundai/Kia and Volkswagen/Audi are projected to take the biggest hits in September. Ford and Chrysler will be the bright spots in a down month. Ford is expected to see a 5 percent sales increase in September, while Chrysler will see sales tick up 0.7 percent. Caldwell is predicting a strong final quarter to close out 2013.
Edmunds says: Some insider knowledge to help you look smart at the water cooler, courtesy of Edmunds.