Trommer

S&P Global Mobility: August US auto sales trends remain familiar

Retrieved on: 
Monday, August 28, 2023
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SOUTHFIELD, Mich., Aug. 28, 2023 /PRNewswire/ -- S&P Global Mobility expects US light vehicle sales in August to remain steadfast in a challenging environment, with a volume estimate of 1.34 million units. The projected August result would be up 18% year over year, however compared to the month-prior result, growth would be a milder 3% even with two more selling days. This translates to a seasonally adjusted annual rate (SAAR) of 15.2 million units, down from a July 2023 reading of 15.7 million units.

Key Points: 
  • This translates to a seasonally adjusted annual rate (SAAR) of 15.2 million units, down from a July 2023 reading of 15.7 million units.
  • The daily selling rate metric, since peaking at 54,500 sales per day in April, has realized a mild downward trend since.
  • S&P Global Mobility analysts project calendar year 2023 total light vehicle sales of 15.4 million units.
  • "New vehicle affordability concerns will not be quick to rectify," reports Chris Hopson, principal analyst at S&P Global Mobility.