J.D. Power and Associates Reports: New-Vehicle Retail Sales Volume Deteriorates as August Closes
WESTLAKE VILLAGE, Calif., Aug. 31, 2011 /PRNewswire/ — The August new-vehicle retail sales pace has declined sharply during the second half of the month, as the impact of negative variables–weak consumer confidence, delayed purchases in the hopes of bargains, and inclement weather–take hold, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States.
The August retail seasonally adjusted annualized rate (SAAR) is expected to come in at 9.7 million units, which is an improvement from July’s 9.5 million unit SAAR. The total light-vehicle selling rate is expected to be 11.9 million units, a slight decline from July’s 12.2 million units as a result of a weaker fleet mix.
“With the economic woes, summer vacations and Hurricane Irene taking center stage, August may be a lost month for vehicle sales, but the slight increase in the retail selling rate from last month is still a step in the right direction,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. “Marketing and incentive focus has already shifted to September with the upcoming Labor Day weekend, so with improved inventory, the sales pace could show marked improvement next month.”
J.D. Power and Associates will be tracking new-vehicle sales as they are announced by auto manufacturers on September 1 and will have automotive analysts available for both print and broadcast interviews after 8:00 a.m. E.T./5:00 a.m. P.T.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. With leading brands including Standard & Poor’s, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, the Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.
SOURCE J.D. Power and Associates