Consumer spending on vehicles up 11.8% year over year.
Total new-vehicle sales for October 2024, including retail and non-retail transactions, are projected to reach 1,327,600, a 2.1% increase from October 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData. October 2024 has 27 selling days, 2 more than October 2023. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 10.3% from 2023.
The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.1 million units, up 0.6 million units
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