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Automobile industry

TrueCar Forecasts Strong August Sales, On Track to Hit 17.2M U.S. Vehicles in 2015

Strategic Insights

— 1 min read

Despite a slight decline in overall volume, TrueCar projects the seasonally adjusted annualized rate for total light vehicle sales to reach 17.4 million units in August, surpassing the 17.3 million units sold during the same period last year. The strong demand for crossovers and pickup trucks continues to drive the industry's growth. According to TrueCar's vice president of industry insights, Eric Lyman, the industry is on track to hit its revised 17.2 million-unit projection for 2015.

Key Takeaways:

  • TrueCar forecasts the seasonally adjusted annualized rate for total light vehicle sales to reach 17.4 million units in August, a 0.1 million unit increase from August 2014.
  • Total new vehicle sales, including fleet deliveries, may decrease by 2.9% to 1,539,400 from 1,586,015 in August 2014.
  • Retail volume may fall 3 percent to 1,364,500 in August, while premium vehicle sales may decrease 1.5% and mass-market volume will likely decline by 3.1% compared with August 2014.
  • Eric Lyman, TrueCar's vice president of industry insights, attributes the strong demand for crossovers and pickup trucks to the industry's growth.
  • Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), and Volkswagen (VLKAY).
  • The Labor Day holiday weekend's impact on car-buying activity has been pushed to September due to its later-than-usual occurrence.

Statistics:

  • Seasonally adjusted annualized rate for total light vehicle sales: 17.3 million units (August 2014) vs 17.4 million units (August 2015)
  • Total new vehicle sales (including fleet deliveries): 1,586,015 (August 2014) vs 1,539,400 (August 2015) (-2.9%)
  • Retail volume: 1,406,400 (August 2014) vs 1,364,500 (August 2015) (-3%)
  • Premium vehicle sales: 2.5 million (August 2014) vs 2.45 million (August 2015) (-1.5%)
  • Mass-market volume: 1.8 million (August 2014) vs 1.735 million (August 2015) (-3.1%)

Sources:

  • TheFlyOnTheWall.com via COMTEX (Aug 26, 2015)

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