September’s new-vehicle retail sales are expected to come in at 590,000 units, according to J.D. Power and Associates — the lowest selling rate in 2009 — and down 24 percent from September 2008.
Part of the retail sales drop was an expected effect of the end of this summer’s “Cash-for-Clunkers” government payback program, which was intended to stimulate the auto industry. The rest of the decline was attributed to low inventories and reduced incentives.
J.D. Power is maintaining its forecast for 2009 at 10.3 million units for total sales, with retail sales projected to come in at 8.6 million units. The 2010 forecast remains at 11.5 million units for total sales and 9.5 million units for retail sales.