Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

JD Power sees US auto sales down 6 pct in October



23 October 2009 @ 11:13 am ET

DETROIT - October U.S. auto sales should be down about 6 percent from a year ago, marking the first single-digit monthly decline since May 2008, influential industry forecasting firm J.D. Power and Associates predicted on Friday.


JD Power sees US auto sales down 6 pct in October
A potential car buyer looks at vehicles on a lot in Silver Spring, Maryland, September 1, 2009. U.S. auto sales boomed in August as consumers burned through $3 billion in government incentives, leaving automakers to contend with both inventory shortages and uncertain demand in the months ahead. (Reuters Photo / Jason Reed)
1 of 1

J.D. Power forecast October sales at 10.3 million units on an annualized basis, compared with 10.5 million units a year earlier.

"While year-over-year comparisons benefit from a low selling base in October 2008, improvements in consumer confidence and credit are propelling the return to positive sales gains relative to last year," said Gary Dilts, senior vice president of global automotive operations at J.D. Power and Associates.

While the forecast sees the first single-digit drop in sales in 17 months, August 2009 actually showed a 13 percent increase in annualized sales from a year before. However, that month was seen as an anomaly because of higher sales generated by the federal "Cash for Clunkers" incentive program.

(Reporting by Soyoung Kim and Bernie Woodall, editing by Gerald E. McCormick)

Copyright 2009 Thomson Reuters. All rights reserved.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
Discussions of a gold bubble are beginning to make their way through the marketplace. Given that gold stocks can be valued on the underlying earnings or ...
Italy's Ferrero family is united in its decision to look at options for British confectioner Cadbury, a source close to the family told Reuters, after ne...
The risk of strike action at Dutch mail company TNT NV grew on Monday after members of its two largest unions rejected proposals that included a pay cut ...

advertisement
Advertisement
POS Magnetic Card Readers

Online distributor for point of sale equipment, TYSSO and Pegasus.

 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives