Clearance Deals Could Push Auto Sales to Biggest August Since 2003, Says Edmunds.com
SANTA MONICA, Calif. — August 28, 2014 — 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.
"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 |
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 |
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
Edmunds is a car-shopping Web site committed to helping people find the car that meets their every need. Almost 18 million visitors use our research, shopping and buying tools every month to make an easy and informed decision on their next new or used car. Whether you're at the dealership or on the go, we're always by your side with our acclaimed Edmunds.com iPhone and iPad apps and our Edmunds.com Android App. Our comprehensive car reviews, shopping tips, photos, videos and feature stories offer a friendly and authentic approach to the automotive world. 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.
