Are October vehicle sales sign of better things to come?
Posted on Friday, October 31, 2014 at 9:01:51 AM
Christmas is less than two months away, and before that, Black Friday and the start of the holiday shopping season. Even vehicles are a part of this rush, and data released by Edmunds.com showed that conditions may be ripe for some strong holiday numbers.
It appears that many people are taking advantage of affordable auto financing and other great incentives to buy a vehicle. Edmunds.com forecasted more than 1.2 million new cars and trucks sold in October. If those figures hold, it would be a 3.1 percent uptick compared to the previous month.
"Car and truck sales have settled into a groove," explained Edmunds.com senior analyst Jessica Caldwell. "Dealers are welcoming a consistent flow of shoppers into their showrooms, and the pace will likely remain steady through the end of the year. With declining gas prices and strong truck and SUV sales, the industry is poised for a very busy holiday season."
On a related holiday-themed note, Experian Automotive reported that many of today's vehicles on the road are "zombies," or belonging to manufacturers that have gone out of business. Top metros for zombie brands include Chicago and New York, at 3.4 percent and 3 percent, respectively. Those vehicles include Saturns, Suzukis and Mercurys.