Japan’s March tsunami and earthquake sent automobile production and sales into a tailspin that the industry has only recently started to recover from. Analysts project U.S. car sales increased 9 percent this month from September 2010, lifting car sales from their lowest per capita levels since World War II.
According to Reuters, J.D. Power & Associates and Edmunds.com project 12.9 million vehicles will have sold when September wraps up. In comparison, only 13.1 million vehicles sold in the first four months of the year. The figures are based on annualized sales rates that are standard in the industry.
An auto dealers group CEO predicts vehicle sales will rise in the fourth quarter, but many analysts believe the industry will continue to face stiff challenges because of the struggling economy.
September auto sales seen up 9 percent [Reuters]