August Auto Sales Will Stay The Course
The firm predicts August new-vehicle retail sales will be 857,000 units, which represents a seasonally adjusted annualized rate (SAAR) of 8.9 million units, down from July's selling rate of 9.2 million units.
The firm says incentives are down 8% from July, "But retail light-vehicle sales in August are showing relative strength," said Jeff Schuster, executive director of global forecasting in a release. He said that while retail sales are likely to be down 22% from August last year. "If the distortion from 2009's CARS program is removed, August 2010 is actually up about 14% on a selling day-adjusted basis, signaling continued improvement year over year."