HomeIndustriesU.S. New Vehicle Sales Expected to Rise in September

U.S. New Vehicle Sales Expected to Rise in September

Cox Automotive reported that new vehicle sales in the U.S. are expected to rise in September compared to the previous year. This comes after the auto research firm confirmed that sales in the current month are on course to hit 1.3 million units; up by more than 13% compared to the previous year.

“Pent-up demand has been fueling the vehicle market this year,” Charlie Chesbrough, Cox Automotive senior economist observed. “Consumers, and even more so large fleets, have become buyers as inventory improves.”

This rise in demand comes despite rising interest rates on new vehicle loans. Cox Automotive has raised its full-year U.S. new vehicle sales forecast from 15 million units to a range of 15.3 million to 15.4 million units.

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