J.D. Power And Associates is forecasting another big jump in autosales for August.In its latest report, the firm projects new-vehicle retail sales for the month at 1,066,200 units, or a seasonally adjusted annualized rate of 12.3 million units — an 18 per cent gain from last August
That would be the highest monthly level since 2008, and the fourth-consecutive month of double-digit growth.
“August continues this summer’s trend of healthy growth in retail sales as dealers work to sell down inventory in time to make room for 2013 models,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive, adding, “we expect the current seesawing in auto sales to continue for the foreseeable future, but the overall picture in 2012 remains positive.”
North American light-vehicle production volume has increased by 23 per cent through the first seven months this year, compared with the same period in 2011.
Business Insider Emails & Alerts
Site highlights each day to your inbox.