(Matthew DeBord – Business Insider)
This was supposed to be the year that the US auto sales boom finally ran out of gas.
After consecutive record-breaking years, with 17.5 million vehicles sold in 2015 and 17.55 million in 2016, the total in 2017 after a mid-year lag appeared as though it might dip below 17 million. A big drop to 15 million wasn’t in the cards, but the sales pace fell to around 16.5 million.
Then two hurricanes in a row slammed into Texas and Florida and sent consumers back to the showrooms to replace destroyed or damaged vehicles.
But the dynamics of the market also proved more resilient than expected. Analysts surveyed by Bloomberg now expect October US sales when reported on Wednesday to show a Seasonally Adjusted Annual Rate (SAAR) of 17.6 million. Click here to read more.