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TrueCar, an automotive solutions provider and authority on market trends relating to sales, recently released its sales and incentives forecast for September 2011, which found new vehicle sales are at the highest recorded seasonally adjusted annual rate since April.
According to analysis from the forecast, the sale of new light vehicles is expected to rise 10.1 percent compared to September 2010 but down 1.6 percent from August 2011.
"New vehicle sales are doing particularly well, even with worries of a recession and another wild month for the financial markets in September," said Jesse Toprak, vice president of industry trends and insights for TrueCar.com. "If the current trends hold, we expect 2011 total new light vehicle sales to be 12.75 million units – up 10 percent from 2010."
TrueCar's assessment that consumers will spend more on new cars this year contrast with recent reports of consumers spending more on new cars this month comes in contrast to some recent reports that the struggling economy will dissuade consumers from making new car purchases. Diane Swonk, chief economist at Mesirow Financial, told USA Today she expects the trend of consumers being apprehensive and cautious about spending to continue.
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