Total light vehicle sales are forecast 17.4 million units on a seasonally adjusted annualized rate in August compared to 17.3 million units a year ago with a slight decline in overall volume. Total new vehicle sales, including fleet deliveries, may decrease by 2.9% to 1,539,400 from 1,586,015 a year ago.
A later than usual Labor Day holiday weekend this year is pushing the impact of that major car-buying period for automakers to September. The year-ago month was extremely strong for the industry with sales reaching the highest level for August since 2003. Retail volume may fall 3% to 1,364,500, according to TrueCar the source of the soothsaying.
Edmunds.com forecasts that sales of 1,538,958 new cars and trucks will be sold in the U.S. in August for an estimated Seasonally Adjusted Annual Rate of 17.4 million. These projected sales would be a 2.1% increase from July 2015, but a 2.8% decrease from August 2014.
“Despite the tough comparison with last August, robust demand for crossovers and pickup trucks continues this month and the industry is right on plan to hit our revised 17.2 million-unit projection for 2015,” said Eric Lyman, TrueCar’s vice president of industry insights. “Last August was a very strong month, with a built-in sales bump from Labor Day. With the Labor Day delay, we anticipate a lot of buying activity in September.”
On a daily selling rate (DSR) basis, adjusting for one less day this month versus August 2014, sales should rise 0.9% Premium vehicle sales may decrease 1.5% compared with August 2014, while mass-market volume will likely decline by 3.1%. Acura, Cadillac and Lincoln are the only premium brands expected to post positive year-over-year sales gains this month. Lincoln may lead the pack with a 4.3% increase in sales, according to TrueCar.
“Given that gas prices and interest rates remain low and consumer confidence is high, there’s nothing hindering consumers ready to buy this summer,” said Lyman. “Consumers are also being tempted with very attractive financing offers, as low as 0.0% for 72 months, by large automakers like Ford and GM.”
Other findings for August sales:
• Expected registration mix of 88.6 percent retail sales and 11.4 percent fleet versus 88.7 percent retail and 11.3 percent fleet last August.
• Total used auto sales, including franchise and independent dealerships and private-party transactions, may exceed 3,353,742, up 3.8% from August 2014.
