LIVE: Auto sales

Car salesmen dealership

Automakers will report their US sales results for August throughout Thursday.

Analysts forecast that sales rose at a seasonally adjusted annual rate of 17.20 million, according to Bloomberg. That would be lower than the 17.9 million rate in July, which was the highest of the year.

Among the so-called big three, only Fiat Chrysler is forecast to post positive sales. Ford is expected to report an 8.2% drop, and GM is estimated to decline 4.9%.

A number of analysts expect softer sales for August because car companies offered lesser discounts. Goldman’s David Tamberrino noted that sales in the first week of the month looked weak, before picking up in the following days, according to Bloomberg.

Citi’s Itay Michaeli said that fewer incentives early in August meant that transaction prices were higher.

Following a record in 2015, car sales have remained quite robust this year despite concerns that the market was going to peak.

Auto sales numbers are watched not just for what they say about the industry, but what they reveal about the strength of consumer spending, since cars are a big-ticket item.

We’ll update this page with the latest numbers as they roll in, so refresh for updates.

NOW WATCH: This flying car is real and it can fly 430 miles on a full tank