New-car sales slowed in July, but were still better than last year.
J.D. Power and Associates and LMC Automotive project August new-vehicle retail sales of 1,066,200 units, which represent a seasonally adjusted annualized rate (SAAR) of 12.3 million units.
Incentives are down slightly in August, compared with July ($106 less per vehicle, on average).Total light-vehicle sales, including fleet, are expected to come in at 1,285,300 units, a 16 percent increase from August 2011. Fleet represents only 17 percent of total light-vehicle sales, which is lower than the 21 percent year-to-date average.
LMC Automotive recently revised the outlook for total light-vehicle sales in the United States downward to 14.3 million units from 14.5 million units, with retail sales at 11.4 million units, down from 11.5 million units.
Kelley Blue Book predicts August new-car sales will hit 1,273,000 units overall.
However, the daily selling rate is expected to decline nearly 1,000 units per day compared to July 2011.
From a segment perspective, Kelley Blue Book expects a jump in sales of compact, subcompact and hybrid cars as consumers seek respite from rising fuel prices. Gas prices have increased by $0.30 per gallon since early July, and as a result, Kelley Blue Book has seen an increased interest in fuel-sipping small cars both in terms of KBB.com shopper activity and retail sales volume. Mid-size car sales also remain strong at 16.8 percent market share. The Toyota Camry will continue to lead segment sales; however, the 2013 Nissan Altima could sway consumers with its segment-leading 38-mpg highway.
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