Report: Auto Sales Down Compared to Last Year
Dec. 30, 2019—The auto industry is heading toward breaking the record for auto sales sold in December, according to a report by Fox Business. However, sales for the year are down compared to one year prior.
Sales volumes are based on 25 selling days, but this December has one less selling day than last month and last December. So auto sales volume is expected to close the year at 3.2 percent lower than the same time last year, but up 11 percent from last month, according to the study from Cox Automotive.
End of year auto sales are considered the most important within the auto industry, as car dealerships look to empty out last year’s inventory and consumer spending and interest is at an all-time high during the holiday season, according to the report.