Auto sales volume rose by almost double digits this month in the United States, with inventories breaching the 3 million unit level for the first time, according to S&P Global Mobility.
In October, 1.3 million units of light vehicles—passenger cars and light trucks—are estimated to have been sold, up 9.75 percent from the same month last year, the firm said in an Oct. 29 statement. “As we begin the final quarter of the calendar year, there’s potential that automakers will look to provide some additional support for consumers,” said Chris Hopson, principal analyst at the automotive data company.
“This would be warmly received by new vehicle shoppers who continue to be pressured by high interest rates and slow-to-recede vehicle prices, which are translating to high monthly payments.”…