Record consumer spending is supporting vehicle sales.
Total new-vehicle sales for October 2023, including retail and non-retail transactions, are projected to reach 1,201,800 units, a 6.6% increase from October 2022, according to a joint forecast from J.D. Power and GlobalData. October 2023 has 25 selling days, one fewer than October 2022. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 2.5% from a year ago.
The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.5 million units, up 0.9 million units from October 2022.
New-vehicle retail
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