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Vehicle sales hold steady this August

Posted on Thursday, August 28, 2014 at 8:16:06 AM

This summer has been hot for vehicle buyers, as new incentives, deals and affordable auto financing have all helped people land their perfect cars.

According to TrueCar, this August's seasonally adjusted annualized rate, or SAAR, is expected to hit 16.6 million new vehicles, with overall sales figures close to the pace set at the same time last year. New light vehicles this month could reach more than 1.5 million units, a 3.7 percent surge in the daily selling rate.

"Despite one fewer selling day, sales are tracking to match last year's epic August, while incentive spending changes reflect consumer demand shifting to higher-MSRP, higher-profit vehicle segments, which is a net positive for most full-line automakers," said John Krafcik, president of TrueCar.

TrueCar expects some of the strongest manufacturers to include Chrysler, GM and Toyota, just to name a few.

In addition, Kelley Blue Book explained that this Labor Day holiday could be a strong boost to overall interest in vehicles, as many consumers will look to take advantage of weekend deals. Overall, retail sales are predicted to comprise 89 percent of the total vehicle volume this August.