New-vehicle sales are expected improve 13.6 percent in August 2013 to a total of 1.46 million units, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information. While affordable financing and generous incentive offers continue to more than offset any downside risk associated with steadily rising average transaction prices, low supply continues to impede the growth of major automakers such as Ford, Subaru and Hyundai. Given current market conditions, Kelley Blue Book believes that sales will remain on track to hit 15.6 million units in 2013.
Key Highlights for Estimated August 2013 Sales Forecast:
- In August, new light-vehicle sales, including fleet, are expected to hit 1,460,000 units, up 13.6 percent from August 2012 and up 11.0 percent from July 2013.
- The seasonally adjusted annual rate (SAAR) for August 2013 is estimated to be 15.6 million, up from 14.5 million in August 2012 and down from 15.8 million in July 2013.
- Retail sales are expected to account for 86 percent of total sales in August 2013.
Accord, Civic and CR-V Help Honda Lead the Way with 17.3 Percent Improvement in August
Honda has enjoyed tremendous growth so far this year, with sales up more than 8.4 percent year-to-date through July, thanks to the success of the redesigned Accord, Civic and CR-V. Meanwhile, although not expected to post double-digit gains this month, Ford has seen sales volume improve nearly 13 percent so far this year, benefitting from its own batch of well-received redesigns. The bar is raised to new heights with every passing model year and with so many fuel-efficient, stylish alternatives available today, it has never been a better time to buy a new car.
“Most automakers are seeing double-digit sales increases compared to last year as retail sales remain a bright spot, even with more new models entering the market,” said Alec Gutierrez, senior analyst at Kelley Blue Book. “Subaru continues to shine, estimated to be up 30 percent this month even with capacity constraints, and Honda once again has one of the strongest year-over-year growths. On the other hand, Ford could have been up double digits, but has been hampered with production issues from both the Escape and Fusion.”
Trucks, Crossovers Remain Atop Growth Segments, While Compacts Aren’t Far Behind
The growth in the truck segment appears to have no end in sight, thanks in large part to the rise in new home construction taking place across the United States. In addition to gains attributed to the housing market, the auto industry is heading into the time of year where truck sales tend to ramp up. With seasonal demand predicted to increase during the next few months, Kelley Blue Book expects growth in the full-size pickup truck segment to continue unabated.
“The mid-size car segment, which had many redesigned models introduced last year, is expected to be down nearly 2 percent in market share and is being challenged by compact cars for the top segment, while both the large truck and compact crossover segments are seeing the most improvement, up nearly 1 percent,” said Tim Fleming, analyst at Kelley Blue Book. “The launch of the new Toyota Corolla next month could provide the necessary sales for compact cars to become the leading segment in the industry.”
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry. Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Suggested Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. KBB.com provides consumer pricing and information on cars for sale, minivans, pickup trucks, sedan, hybrids, electric cars, and SUVs. Kelley Blue Book Co., Inc. is a wholly owned subsidiary of AutoTrader Group.