U.S. light-vehicle sales remain in low gear as the third quarter winds down, while slumping consumer sentiment threatens a further downshift.
Cox Automotive on Wednesday, Sept. 28, cut its full-year new-vehicle sales outlook to 13.7 million — down more than 9 percent from 2021 and the industry's lowest tally in a decade.
It's the third time this year Cox has lowered its sales forecast, which initially stood at 16 million vehicles.
Most automakers are expected to release third-quarter U.S. sales results early this week.