The new light-vehicle sales volume in October equated to a SAAR of 16.2 million units, the second straight month with a SAAR above 16 million units.
New light-vehicle sales increased for the fifth straight month in September.
August’s SAAR of 15.2 million units marked a 4.8% increase from July’s SAAR of 14.5 million units but is down 11% compared with August 2019.
The July SAAR totaled 14.5 million units, a decline of 14.4% compared with July 2019 but up from the SAAR of 13.1 million units for June 2020.
During this quarter, retail sales recovered much more quickly than fleet sales from the effects of the COVID-19 pandemic.
New light-vehicle sales in June improved compared to May but remain down significantly compared to this time last year.
Fleet sales were down year-over-year by a whopping 72% in May, while retail sales only fell by 17%.
New light-vehicle sales showed signs of recovery in May, with a SAAR of 12.21 million units.
The April SAAR represents a drop of 47.6% compared to April 2019. Yet many industry watchers believe auto sales have bottomed out and are showing signs of recovery.
As the first quarter of 2020 has come to a close, the National Automobile Dealers Association (NADA) issued an analysis of U.S. auto sales and the economy, including the initial impact of the COVID-19 pandemic on both.