IFR-Preview-US Sept. light vehicle sales seen dipping
WHAT: Autodata Corp. Total U.S. Light Vehicle Sales, September
WHEN: Tuesday, no set time FORECASTS (annual rate) Reuters IFR Previous Total sales (mln units) 14.50 14.40 14.52
IFR COMMENTARY: "Auto sales probably eased only slightly in September, to about a 14.4 mln annual rate. That's a bit below August's 14.5 mln, but still should be good enough for the third-best reading since April 2008. With low interest rates and improving consumer credit quality, auto lending has begun to revive. Meanwhile, the average age of the auto fleet is likely continuing to extend, as sales remain below the per capita replacement rate.
The slower recent gains in the labor market and economic uncertainty are undoubtedly cooling consumers' attitudes toward major purchases, but confidence has come up again recently, with the percentage of consumers telling the Conference Board's confidence survey that they're planning to buy a car in the next six months not too far below its high for the year (3.9% versus 4.3%)."
-- by Theodore Littleton of IFR Markets, a unit of Thomson Reuters.
((--Reuters Economics and Markets desk, +1 212 646 6300))
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Keywords: IFR PREVIEW/USA