US auto sales likely to rise in October but impact of UAW strike looms – report

"On the surface, with a projected SAAR (seasonally adjusted annual rate) result of 15.7 million units, October auto sales will be stronger than they appear," said Chris Hopson, principal analyst at S&P Global Mobility. New total light vehicle sales in October are estimated to be 1.22 million units, up 3.3% year-over-year, according to the report. "Underlying pressure by way of still-notable vehicle affordability concerns, potential economic slowdown and specific instances of severely limited inventory levels are likely to be a drag on auto sales for the remainder of the year," Hopson added.