J.D. Power and LMC Automotive reports retail vehicle sales remain strong in October. Revise annual sales forecast upward.
New-vehicle retail sales in October are expected to be similar to a year ago, according to a forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to reach 1,134,400 units, a 0.9% decrease on a selling day adjusted basis compared with October 2018. Reporting the same numbers without controlling for the number of selling days translates to an increase of 2.9% from last year. This year, October contains one additional selling day compared with October 2018.