New Auto Sales on Track for Near-Record Year in 2018, Edmunds Forecasts

SANTA MONICA, Calif., Dec. 19, 2018 /PRNewswire/ -- Edmunds forecasts that 1,607,724 new cars and trucks will be sold in the U.S. in December for an estimated seasonally adjusted annual rate (SAAR) of 17.4 million. This reflects a 16 percent increase in sales from November 2018 and a 0.3 percent increase from December 2017. Edmunds experts note that December is expected to be the second-best auto sales month of the year, pushing full-year auto sales for 2018 to 17.3 million, exceeding 2017's 17.2 million vehicles. 

"We've been saying all year that 2018 would be a down note for the auto industry, but it ended up defying the odds," said Jeremy Acevedo, Edmunds' manager of industry analysis. "Automakers are really pulling out all the stops in December to close the year on a high note, and car shoppers seem to be in a buying mood."

While 2018 is on track to go down as another solid year for the industry, Edmunds analysts caution that elevated fleet deliveries and unsustainable levels of incentives helped augment sales totals. Edmunds estimates that retail SAAR will come in at 14.6 million vehicles in December 2018, with fleet transactions accounting for 16.1 percent of total sales. An estimated 2.7 million used vehicles will be sold in December 2018, for a SAAR of 39.7 million (compared to 3.0 million — or a SAAR of 39.8 million — in November).

"Even though 2018 is ending stronger than expected, there are a lot of reasons to approach 2019 with caution," Acevedo said. "Automakers continue to rely heavily on upping fleet sales to mask eroding retail demand, and that's not a sustainable place to be. A record number of lessees returning to the market should help give dealers a boost in the New Year, but rising interest rates and vehicle costs are going to continue to give car shoppers pause and create uncertainty in the market."

More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.

About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.

CONTACT:
Talia James-Armand
Senior Manager, Public Relations
[email protected]
310-309-4900
http://edmunds.com/about/press

SOURCE Edmunds

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