Edmunds.com Forecasts August Auto Sales

Edmunds.com Forecasts August Auto Sales


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Edmunds.com Forecasts August Auto Sales

SANTA MONICA, Calif. — August 28, 2008 — This month's new vehicle sales (including fleet sales) are expected to be 1.26 million units, a 14.4 percent decrease from August 2007 but an 11.4 percent increase from July 2008, according to Edmunds.com, the premier online resource for automotive information.

August 2008 had 27 selling days, the same as August 2007.

 
Change from August 2007
Chrysler
-34.0%
Ford
-16.3%
GM
-27.5%
Honda
0.9%
Nissan
2.3%
Toyota
-7.2%
Industry Total
-14.4%

"We saw a slight improvement in July, but don't expect to see a major recovery for the remainder of the year," observed Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "This month, General Motors sales would have been down at least 30 percent if they hadn't launched their Employee Discount for Everyone promotion, but overall the program has not been nearly as effective as its first implementation back in 2005."

The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 45.1 percent in August 2008, down from 52.1 percent in August 2007 but up from 43.2 percent in July 2008.

"The full impact of Chrysler's decision to stop leasing has yet to be seen. It can be expected to affect Chrysler's introduction of the new Dodge Ram, a vehicle that has historically had a high percentage of leases," commented Michelle Krebs, Senior Editor of Edmunds' AutoObserver.com.

Edmunds.com predicts Chrysler will sell 111,000 units in August 2008, down 34.0 percent compared to August 2007 but up 13.5 percent from July 2008. This would result in a new car market share of 8.8 percent for Chrysler in August 2008, down from 11.4 percent in August 2007 but up from 8.6 percent in July 2008.

Edmunds.com predicts Ford will sell 178,000 units in August 2008, down 16.3 percent compared to August 2007 but up 12.9 percent from July 2008. This would result in a new car market share of 14.1 percent of new car sales in August 2008 for Ford, down from 14.4 percent in August 2007 but up slightly from 13.9 percent in July 2008.

Edmunds.com predicts GM will sell 280,000 units in August 2008, down 27.5 percent compared to August 2007 but up 19.9 percent from July 2008. GM's market share is expected to be 22.2 percent of new vehicle sales in August 2008, down from 26.2 percent in August 2007 but up from 20.6 percent in July 2008.

Edmunds.com predicts Honda will sell 160,000 units in August 2008, up 0.9 percent from August 2007 and 15.1 percent from July 2008. Honda's market share is expected to be 12.7 percent in August 2008, up from 10.8 percent in August 2007 and 12.3 percent in July 2008.

Edmunds.com predicts Nissan will sell 98,000 units in August 2008, up 2.3 percent from August 2007 and 2.5 percent from July 2008. Nissan's market share is expected to be 7.8 percent in August 2008, up from 6.5 percent in August 2007 but down from 8.4 percent in July 2008.

Edmunds.com predicts Toyota will sell 217,000 units in August 2008, down 7.2 percent from August 2007 but up 9.7 percent from July 2008. Toyota's market share is expected to be 17.2 percent in August 2008, up from 15.9 percent in August 2007 but down from 17.4 percent in July 2008.

About Edmunds
Edmunds.com publishes three Web sites that empower, engage and educate automotive consumers and enthusiasts. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value® , is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in January 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in February 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.

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