WardsAuto says October U.S. auto sales to fall 6 percent
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Pre-owned automobiles are shown for sale at a car lot in Oceanside, California, U.S., October 3, 2016. REUTERS/Mike Blake/File Photo
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DETROIT (Reuters) - WardsAuto, an autos industry publication, forecast on Monday that October U.S. auto sales will be 6.2 percent lower than they were in October 2015.
WardsAuto said the sales will be 1.357 million vehicles. That means a seasonally adjusted annualized rate of 17.8 million vehicles, versus 18.05 million vehicles in October 2015.
Last week, J.D. Power and LMC Automotive forecast October U.S. sales will drop 7.3 percent, and show a seasonally adjusted annualized rate of 17.7 million vehicles.
WardsAuto said that all three major U.S. automakers will have sales declines deeper than the overall industry. Major automakers report October U.S. new vehicle sales on Nov. 1.
General Motors Co (NYSE: GM), WardsAuto said, will show October U.S. sales of 224,724 vehicles, down 7 percent, followed by Toyota Motor Corp <7203.T> at 195,145, down 4.4 percent; Ford Motor Co (NYSE: F) at 187,739, down 9.2 percent; Fiat Chrysler Automobiles
There are two fewer selling days this October than October 2015, making year-ago comparisons difficult to match. Adjusted to show sales per day, this October is forecast to be 1 percent stronger than last October, WardsAuto said.
(Reporting by Bernie Woodall; editing by Diane Craft, Bernard Orr)
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