Low inventories are expected to translate to low car and truck sales in September. Cox Automotive estimates sales will be down 26% from last year at the same time. Analyst Michelle Krebs told Michigan News Network this trend has been developing since sales peaked last spring.
“This downturn really started in earnest in June,” Krebs said. “So, the third quarter vehicle sales, we’re expecting to be down 14% from last year and 22% from the same period in 2019, which was without a pandemic.”
Carmakers will report their official September sales numbers on Friday. September is expected to be the worst sales month for the auto industry in about a year and a half.
