Vehicle Sales Forecast: Sixth consecutive month below 17 million SAAR - InvestingChannel

Vehicle Sales Forecast: Sixth consecutive month below 17 million SAAR

The automakers will report July vehicle sales on Friday, September 1st.

Note: There were 27 selling days in August 2017, there were 26 in August 2016.

From WardsAuto: Forecast: U.S. Auto Market Continues Downward Trend in August

A WardsAuto forecast calls for U.S. automakers to deliver 1.51 million light vehicles in August. … The report puts the seasonally adjusted annual rate of sales for August at 16.5 million units, below the 17.1 million SAAR in same-month 2016 and 16.7 million in prior-month 2017.

Light-vehicle inventory stood at 3.86 million units at the end of July, up 9.4% from year-ago and about 15% higher than necessary with current sales rates. The streak of record-high stock is expected to continue with 3.8 million units at the end of August, 7.5% greater than same-month 2016. This will leave automakers with a 69 days’ supply, same as prior-month, but well above year-ago’s 62. Slowdowns in production and higher sales incentives through September are expected to narrow the gap between supply and demand.
emphasis added

Overall sales through July are down about 3% from the record level in 2016.

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