Have Auto Sales Peaked?

wsjm949depend-2016-91
wsjm949depend-2016-91

Another indication that auto sales may have hit a peak. The latest sales forecast from J.D. Power and L.M.C. Automotive predicts September sales are expected to drop slightly from a year ago. Jeff Schuster with L.M.C Automotive says this is more of the same.

“We have declining sales when compared to a year ago,” says Schuster, adding sales wil be lower five times in the past seven months if September’s figures are lower. “But the selling rate, when you annualize it, we’re still at a fairly strong selling rate of 17.7 million units.”

Schuster says the research shows sales on Labor Day weekend, which is typically one of the best in the year, dropped. He adds however, things are still looking fairly strong.