Labor Day Expected to Boost New Vehicle Sales in August, Edmunds Forecasts
SANTA MONICA, Calif., Aug. 28, 2019 /PRNewswire/ -- The car shopping experts at Edmunds forecast that 1,599,264 new cars and trucks will be sold in the U.S. in August for an estimated seasonally adjusted annual rate (SAAR) of 16.6 million. This reflects a 14.3% increase in sales from July 2019, and a 7% increase from August 2018.
"New vehicle sales in August look a little healthier than usual thanks to Labor Day weekend falling earlier this year," said Jeremy Acevedo, Edmunds' senior manager of insights. "Market conditions are looking slightly more favorable than earlier this year thanks to a minor dip in interest rates, but we don't expect that to cause a major turnaround. August really just stole sales that are normally attributed to September."
Edmunds estimates that retail SAAR will come in at 14.4 million vehicles in August 2019, with fleet transactions accounting for 13.1% of total sales. An estimated 3.4 million used vehicles will be sold in August 2019, for a SAAR of 39.8 million (compared to 3.4 million--or a SAAR of 39.6 million--in July).
SALES VOLUME FORECAST, BY MANUFACTURER
Sales August 2019
August
July 2019 Change from Change from July
Volume Forecast 2018 August 2018 2019
GM* 274,916 240,000 235,000 14.5% 17.0%
Toyota 243,164 223,055 209,204 9.0% 16.2%
Ford* 207,713 217,700 191,000 -4.6% 8.8%
Fiat Chrysler* 202,798 193,718 170,000 4.7% 19.3%
Honda 162,889 147,903 141,296 10.1% 15.3%
Hyundai/Kia 126,694 111,406 112,711 13.7% 12.4%
Nissan 108,902 112,376 98,880 -3.1% 10.1%
VW/Audi 58,713 53,162 50,558 10.4% 16.1%
Tesla 19,904 -
Industry 1,599,264 1,494,502 1,399,656 7.0% 14.3%
*GM sales totals for August 2018 are estimated, FCA, Ford, and GM sales totals for July 2019 are estimated
**NOTE: August 2019 had 28 selling days, August 2018 had 27 and July 2019 had 25.
MARKET SHARE FORECAST, BY MANUFACTURER
Market August 2019 August July 2019 Change from Change from July
Share Forecast 2018 August 2018 2019
GM 17.2% 16.1% 16.9% 1.1% 0.3%
Toyota 15.2% 14.9% 14.9% 0.3% 0.3%
Ford 13.0% 14.6% 13.8% -1.6% -0.8%
Fiat Chrysler 12.7% 13.0% 12.3% -0.3% 0.4%
Honda 10.2% 9.9% 10.1% 0.3% 0.1%
Hyundai/Kia 7.9% 7.5% 8.1% 0.5% -0.1%
Nissan 6.8% 7.5% 7.1% -0.7% -0.3%
VW/Audi 3.7% 3.6% 3.6% 0.1% 0.1%
Tesla 1.2%
More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.
About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
CONTACT:
Talia James-Armand
Senior Manager, Public Relations
PR@Edmunds.com
310-309-4900
http://edmunds.com/about/press
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SOURCE Edmunds
