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New Car Sales On Pace For A Solid October

Nov 05, 2013

According to a compilation of four analyst forecasts, auto sales are on pace to increase at least 12% in October, compared to October 2012, with the seasonally adjusted annualized rate (SAAR) climbing to 15.4 million, from 14.2 million in October 2012.While week-to-week data showed consumers were a bit jittery during part of the 16-day government shutdown, the relatively quick resolution allowed time for any potential lost sales to be made up in the latter half of the month.Analysts are predicting year-end total sales between 15.5 and 15.6 million vehicles and expect sales to surpass 16 million units in 2014.One concern voiced by analysts was another potential debt-ceiling gridlock that could shut down the government again in the first quarter of 2014, which could negatively impact consumer confidence and cause a hiccup in vehicle sales, until stability returns to the economy.