Final Total - U.S. Auto Sales for September
Well, the numbers are in and things were slightly better for the U.S. auto industry than the estimate that I provided in my previous post. Light vehicle sales for the month came in at just under 750,000 (746,000), which is down 22% year-over-year (my previous estimate was down 25%).
Here's a link to an article from AP that is still missing some of the details, like total market sales, but it some brand sales totals that a few of you may be interested in:
Sept. US auto sales fall amid clunkers letdown
To reiterate what I said earlier, 750,000 is a far cry from the 1.26 million Cash for Clunkers stimulated sales level that we saw in August, but it definitely is a heck of an improvement over the 500,000 to 600,000 pace that the industry was experiencing during the first half of the month. Business definitely seemed to pick up as September progressed. It will be very interesting to see where sales settle after all of the clunkers dust clears, i.e. inventory levels normalize and the pulled forward sales have been worked through.
We will probably end up seeing total sales for the U.S. market in 2009 come in at slightly over 10 million units, slightly higher than my estimate at mid-year. A level of around 11 million units seems reasonable for 2010, but that will likely have to be refined as the year progresses.