Cox Automotive reports that September 2024 new-vehicle sales volume fell 16% from August and 11% year-over-year, but the annual forecast remains steady at 15.7 million.
The September SAAR (seasonally adjusted annual rate) improved to 15.9 million, up from August’s 15.1 million. Despite a challenging sales period due to fewer selling days, inventory remains strong, and higher incentives are supporting sales.
Year-to-date sales are up less than 1% from 2023, driven mainly by fleet and leasing purchases. Honda gained momentum, securing a Top 5 sales rank. Cox Automotive’s Q3 forecast indicates sales declines at major automakers like GM, Toyota, and Stellantis.
| September 2024 U.S. New-Vehicle Sales Forecast | ||||||||
| Sales Forecast1 | Market Share | |||||||
| Segment | Sep-24 | Sep-23 | Aug-24 | YOY% | MOM% | Sep-24 | Aug-24 | MOM |
| Mid-Size Car | 63,000 | 81,298 | 74,572 | -22.5 % | -15.5 % | 5.3 % | 5.3 % | 0.0 % |
| Compact Car | 95,000 | 93,909 | 109,872 | 1.2 % | -13.5 % | 8.0 % | 7.8 % | 0.2 % |
| Compact SUV/Crossover | 205,000 | 234,872 | 244,555 | -12.7 % | -16.2 % | 17.2 % | 17.3 % | 0.0 % |
| Full-Size Pickup Truck | 165,000 | 180,020 | 192,904 | -8.3 % | -14.5 % | 13.9 % | 13.6 % | 0.3 % |
| Mid-Size SUV/Crossover | 190,000 | 216,899 | 230,307 | -12.4 % | -17.5 % | 16.0 % | 16.2 % | -0.3 % |
| Other Segments | 472,000 | 529,650 | 565,327 | -10.9 % | -16.5 % | 39.7 % | 39.9 % | -0.2 % |
| Grand Total | 1,190,000 | 1,336,648 | 1,417,537 | -11.0 % | -16.1 % | |||
| 1 Cox Automotive Industry Insights data | ||||||||
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