Last week I said
[The JD Power October Sales Estimate] seems weak to me, though its
lowerhigher than the number people had floating around. I would expect to see some rise from the August numbers as both Honda and Toyota sales caught up. A big number like 13.8+ wouldn’t surprise me but 13.3ish would be my baseline.
An estimated 1,033,257 new cars will be sold in October, for a projected Seasonally Adjusted Annual Rate (SAAR) of 13.4 million units, forecasts Edmunds.com … This sales pace would mark the highest monthly SAAR since August 2009, when sales were inflated by the Cash for Clunkers program.
The October 2011 forecast translates into a Seasonally Adjusted Annualized Rate (SAAR) of 13.4 million new car sales, up from 13.1 million in September 2011 and up from 12.2 million in October 2010.
HT: Calculated Risk
I’m a pessimist. But, pessimism is not a forecast. It’s a disposition. The forecast says strong growth in Q4.