U.S. auto sales expected to remain at decade high in October

In the United States, motor vehicle purchases probably began the final quarter of 2015 on a high note. Despite limited 2015 model-year product and reduced sales incentives, passenger car and light truck purchases likely remained at the decade-high seasonally adjusted annual rate of 18.1 million posted in September (see accompanying chart). 

"Our forecast would place October's tally 9.9% above the 16.5 million vehicles sold last year and mark the strongest result for that calendar month since the whopping 21.7 million purchased in 2001. Turning to the implications for the Census Bureau's Advance Report on Retail and Food Services Sales, the above projection would be consistent with auto-dealership revenues climbing by 0.4%, or by $405 million, to $95.1 billion in October, providing a 0.1-percentage-point lift to total purchases last month", argues Societe Generale.