Automotive information giant Edmunds expects the industry's sales to take a slight dip in October.
Edmunds projects that 1,317,738 new cars and trucks will be sold in the U.S. in October, equating to a Seasonally Adjusted Annual Rate (SAAR) of 17.6 million. This represents a 13.3% drop in sales from September 2017 and a 3.5% decline from the same period a year ago.
"A 17.6 million SAAR in October is expected to be the second highest monthly sales rate of 2017, so despite the year-over-year decline, the industry can still consider it a solid month," said Jessica Caldwell, Edmunds executive director of industry analysis.
Although Edmunds expects auto sales to continue to stall this year compared to last if incentives ramp up enough to attract new car buyers, the year could still finish historically strong.
"We expect to see increasingly aggressive incentives offered on outgoing models through the end of the year as automakers look to build on this momentum, so car buyers can likely anticipate some door-buster deals this holiday season," Caldwell added.
Additionally, Edmunds expects a boost in auto sales from the losses inflicted by Hurricanes Harvey and Irma.
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