Analysts expect U.S. new vehicle sales to keep rebounding in August after increasing by 42.3% MoM in May, 6.9% in June and 11.3% in July (according to Wards data).
According to specialists, U.S. new vehicle sales could rise in August despite the federal government’s CARES Act programs — which provided financial relief to individuals and businesses affected by COVID-19 — for the most part expired at the end of July:
1- Cox Automotive noted “ the seasonally adjusted annual rate (SAAR) of auto sales in August is expected to finish near 14.9 million, up from last month’s 14.5 million pace. Sales volume in August, forecast at 1.30 million, will increase 7% from July.”
August new vehicle sales are forecast to be up from July. The industry's slow sales recovery continues. Our August 2020 forecast: https://t.co/q3hxEJxwHe
— Cox Automotive (@CoxAutomotive) August 27, 2020
2- ALG, Inc., a subsidiary of TrueCar, Inc. projects “total new vehicle sales will reach 1,303,826 units in August 2020, down 15% from a year ago when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 15 million units.”
3- Industry consultants J.D. Power and LMC Automotive said “The seasonally adjusted annualized rate (SAAR) for total sales is expected to be 15.1 million units, down 2.0 million units from a year ago.”
4- Finally, Wards Intelligence expects sales to reach 15.2 million SAAR.