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U.S. Auto Sales Pace Tops 15.5 Million For August

Sep 06, 2013

According to various industry analysts, the annualized U.S. sales rate for August hit between 15.7 million and 15.8 million vehicles, driven by close-out deals, pent-up demand and low finance rates. This is well above the seasonally adjusted annualized rate of 14.5 million in August 2012.August Sales Up 12%. J.D. Power reports that August 2013 was the best month for retail auto sales in seven years, an indication that the sector is driving the ongoing U.S. economic recovery. Total new vehicle sales were nearly 1.5 million in August, a 12% increase from 2012, according to J.D. Power.August Was A Solid Month For Used Vehicle Sales. CNW Research reports that August used vehicle sales increased approximately 3% in 2013, compared to August 2012. Used vehicle sales hit 3.98 million, up from 3.87 million last year. CNW estimates that franchised stores sold approximately 1.52 million used vehicles, bringing the yearly total to nearly 10.6 million.More Used Vehicle Sales On The Horizon. According to data analyzed by CNW, there may be as many as 100,000 potential used vehicle buyers that are ready to pull the trigger and buy a vehicle sometime later this year. Of those who have postponed a used vehicle purchase, CNW indicated 94.7% of them say they still plan to make that purchase sometime in the next six months. Buyers offer several reasons for their postponed purchase, including their desire to put together a larger down payment in order to buy a newer or slightly more upscale model.