Edmunds: 2014 SAAR May Best 2006 Peak
The surge in United States auto sales last month could push the final figures to a height not seen since 2006 when January 2015 rolls around.
According to Automotive News, Edmunds chief economist Lacey Plache said that though the publication is holding at 16.4 million SAAR (Seasonally Adjusted Annual Rate) for 2014, “there is definite potential for numbers to hit higher than that.”
At present, the SAAR for 2014 is expected to hit 17.5 million, much higher than the previous peak of 16.6 million in 2006. August’s SAAR was fueled by strong Labor Day sales, which may have dinged September’s SAAR as consumers opted to make their purchases before summer drew to a close.
Meanwhile, Plache expects 2015’s SAAR to fall just short of 17 million, fueled by expiring leases. However, she and Edmunds senior analyst Jessica Caldwell warn a rise in interest rates in 2016 may put a drag on sales. Caldwell adds that automakers’ finance wings could counter this “by subsidizing lower rates.”
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