New-vehicle sales for August are expected to record double-digit gains, putting the industry on track for 15.6 million units sold this year, according to the latest information from Kelley Blue Book.
Get the facts and figures from Kelley Blue Book on what’s hot in August.
New-vehicle sales are expected improve 13.6 percent in August 2013 to a total of 1.46 million units, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information. While affordable financing and generous incentive offers continue to more than offset any downside risk associated with steadily rising average transaction prices, low supply continues to impede the growth of major automakers such as Ford, Subaru and Hyundai. Given current market conditions, Kelley Blue Book believes that sales will remain on track to hit 15.6 million units in 2013.
Key Highlights for Estimated August 2013 Sales Forecast:
- In August, new light-vehicle sales, including fleet, are expected to hit 1,460,000 units, up 13.6 percent from August 2012 and up 11.0 percent from July 2013.
- The seasonally adjusted annual rate (SAAR) for August 2013 is estimated to be 15.6 million, up from 14.5 million in August 2012 and down from 15.8 million in July 2013.
- Retail sales are expected to account for 86 percent of total sales in August 2013.
Honda has enjoyed tremendous growth so far this year, with sales up more than 8.4 percent year-to-date through July, thanks to the success of the redesigned Accord, Civic and CR-V.
“Most automakers are seeing double-digit sales increases compared to last year as retail sales remain a bright spot, even with more new models entering the market,” said Alec Gutierrez, senior analyst at Kelley Blue Book. “Subaru continues to shine, estimated to be up 30 percent this month even with capacity constraints, and Honda once again has one of the strongest year-over-year growths. On the other hand, Ford could have been up double digits, but has been hampered with production issues from both the Escape and Fusion.”