Sales edge down but SAAR soars to 17.81 million - Automotive News
light-vehicle sales slipped 0. 7 percent, far better than projections of a 3. 3 percent dip, to 1. 505 million in August as consumers shrugged off volatile stock prices and continued to splurge on new cars and light trucks. The seasonally adjusted annualized sales rate soared to 17. 81 million, the highest pace since July 2005, when employee-style discounts drove volume, and the strongest month of the 6-year recovery. Deliveries, led by crossovers and SUVs, have now advanced 3. 9 percent to 11. 6 million vehicles in 2015 and appear well poised to surpass 17 million for only the third year ever. Because of a calendar quirk that means Labor Day holiday volume will be included in September results this year, August 2015 deliveries across the U. S. had been projected to drop to about 1. 53 million cars and light trucks, based on the average... There were 26 selling days last month, one fewer than in August 2014. The seasonally adjusted annualized sales rate for August was projected to come in at 17. 3 million, flat with the August 2014 rate, based on the estimates of 12 analysts... The SAAR has now topped 17 million five out of seven months this year, including 17. 55 million in July. Among major automakers, Ford Motor Co. and Fiat Chrysler Automobiles posted August gains while their biggest Japanese rivals fell amid a solid month for. Source: www.autonews.com
