Clearance Deals Could Push Auto Sales to Biggest August Since 2003, Says Edmunds.com - myFOXnepa.com

Clearance Deals Could Push Auto Sales to Biggest August Since 2003, Says Edmunds.com

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SOURCE Edmunds.com

SANTA MONICA, Calif., Aug. 28, 2014 /PRNewswire/ -- Edmunds.com, the premier destination for car shopping, forecasts that 1,511,438 new cars and trucks will be sold in the U.S. in August for an estimated Seasonally Adjusted Annual Rate (SAAR) of 16.9 million. The projected sales will be a 5.5 percent increase from July 2014, and a 0.7 percent increase from August 2013. Edmunds.com projects that this month's sales could hit the highest August sales volume since August 2003, when the industry delivered 1,628,365 new cars.

Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with over 9,500 dealer franchises across the U.S. Shoppers can browse our inventory listings for available cars and trucks, and they can get an instant, upfront price on those vehicles with Edmunds.com's Price Promise(SM). Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, and videos.

"August is a huge month for dealers who need to clear out 2014 models to make room for 2015 inventory," says Edmunds.com Senior Analyst Jessica Caldwell. "TV and radio airwaves are filled with these clearance deals and they're helping to push hesitant car shoppers into 'buy now' mode."

 

SALES VOLUME FORECAST, BY MANUFACTURER







Sales Volume

Aug-14 Forecast

Aug-13  

Jul-14   

Change from Aug 2013*

Change from Jul 2014*







GM

268,813

275,847

256,160

-2.5%

4.9%

Toyota

226,700

231,537

215,802

-2.1%

5.0%

Ford

217,503

220,404

211,467

-1.3%

2.9%

Chrysler Group

190,604

165,552

167,667

15.1%

13.7%

Honda

155,417

166,432

135,908

-6.6%

14.4%

Nissan

126,824

120,498

121,452

5.2%

4.4%

Hyundai/Kia

119,932

118,126

119,320

1.5%

0.5%

VW/Audi

49,715

54,347

45,169

-8.5%

10.1%

Industry

1,511,438

1,500,420

1,432,271

0.7%

5.5%

*NOTE: August 2014 had 27 selling days, August 2013 had 28 and July 2014 had 26.

 

Edmunds.com estimates that retail SAAR will come in at 14.7 million vehicles in August, with fleet transactions accounting for 13.0 percent of total sales. An estimated 2.95 million used cars will be sold in August, for a SAAR of 35.9 million (compared to 3.24 million – or a SAAR of 36.5 million – used car sales in July).

 

MARKET SHARE FORECAST, BY MANUFACTURER


Market Share

Aug-14 Forecast

Aug-13

Jul-14

Change from

August 2013

(Percentage pts.)

Change from

July 2014

(Percentage pts.)

GM

17.8%

18.4%

17.9%

-0.6%

-0.1%

Toyota

15.0%

15.4%

15.1%

-0.4%

-0.1%

Ford

14.4%

14.7%

14.8%

-0.3%

-0.4%

Chrysler Group

12.6%

11.0%

11.7%

1.6%

0.9%

Honda

10.3%

11.1%

9.5%

-0.8%

0.8%

Nissan

8.4%

8.0%

8.5%

0.4%

-0.1%

Hyundai/Kia

7.9%

7.9%

8.3%

0.1%

-0.4%

VW/Audi

3.3%

3.6%

3.2%

-0.3%

0.1%

Shoppers in the market right now for a new car are encouraged to check out Edmunds.com's Deals of the Month page where they can find some of the strongest available deals, including 0% financing for up to 72 months on a 2014 Chevrolet Cruze or $2,000 cash on a 2014 Nissan 370Z Convertible.

About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with nearly 10,000 dealer franchises across the U.S.  Shoppers can browse our inventory listings for available cars and trucks, and with Edmunds.com's Price PromiseSM, they can get an instant, upfront price on those same vehicles. Recently named the "Highest Ranked Third-Party Automotive Web Site" according to J.D. Power's 2014 Third-Party Automotive Website Evaluation StudySM, Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Use our acclaimed Edmunds.com iPhone and iPad apps or Edmunds.com Android App, or contact our free Live Help line at 1-855-782-4711 or text our experts at ED411. Edmunds.com also founded Car Week, a special shopping event that connects more car shoppers with dealers. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook.

Contact:
Jeannine Fallon/Aaron Lewis/Stephanie Mar
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
pr@edmunds.com

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