September auto sales were up 13 percent compared to the same month in 2011, according to sales tracker Autodata. This is the best result in the last four years and exceeds even the most optimist analysts’ expectations.
It also raises the automotive industry sales’ Seasonally Adjusted Annual Rate (SAAR) projection to 14.9 million. SAAR is determined by dividing the unadjusted annual rate for the month by its seasonality factor, resulting in an adjusted annual rate for the month.
September was the fourth consecutive month, and the seventh month this year, that the SAAR has exceeded 14 million.
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