1417 ET - U.S. light-vehicle sales are expected to remain steady in October, S&P Global Mobility says, adding that sales volumes in the month rose from the year-ago period. The volume estimate of 1.315 million units would mark year-over-year growth of 11%, S&P says, adding that the result translates to a seasonally adjusted rate of 15.9 million units, one of the better results for the metric this year. Chris Hopson, principal analyst at S&P Global Mobility, says there is the potential that automakers will look to provide additional support for consumers in 4Q. "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," Hopson adds. S&P Global Mobility is a division of S&P Global. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
October 28, 2024 14:18 ET (18:18 GMT)
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