Retail Car Sales Strong in August, Reports Edmunds.comBy Michelle Krebs August 19, 2010
If vehicle sales continue at the current pace, August sales will total approximately 1.03 million units for a Seasonally Adjusted Annual Rate of about 11.8 million units, Edmunds.com reports.
This analysis assumes that fleet sales are relatively steady as a percentage of total vehicle sales compared to last month.
"It looks like bargain hunters are getting serious about taking advantage of the model year-end deals," wrote Edmunds.com CEO Jeremy Anwyl in his Just to Clarify blog. "But this is a bargain-driven market, so as the deals dry up, sales will likely trend down from here."
Based on the first two weeks of data for August, Edmunds.com Senior Analyst Ray Zhou, PhD, expects BMW to be up the most dramatically compared with last month, 22 percent, while Ford, Honda, Mercedes and Volkswagen sales may be up about seven or eight percent. General Motors and Nissan sales are expected to be down six or seven percent, and all other automakers' sales will be steady compared to last month.
So far in August, Edmunds.com's monitoring of vehicle retail transactions show some increase from last month, beyond the seasonal norm - but July car sales were underwhelming in light of the abundant incentives available.