US car sales could grow at a seasonally adjusted annual rate (SAAR) of 15.5 million units in September, according to a forecast by Cox Automotive.

 

The agency predicted that car sales in the country will continue to recover from the effects of the COVID-19 pandemic, rising marginally above the 15.2 million vehicles sold in September. However, Cox noted that compared to September 2019, car sales this month will be off by 0.3pc or 1.28 million units. 

 

The agency also noted that retail sales have been steady in the past few months even though inventory levels are much lower than last year. However, in Q3 2020, Cox has forecasted a 19.6pc drop in sales on an annual basis. 

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