News
Edmunds Forecasts August Sales Decline
SANTA MONICA, California — New vehicle sales in August are expected to register a slight uptick from July, but will still lag those from a year ago, according to Edmunds.com.
Edmunds forecasts August sales will total 1.26 million units, up 11.4 percent from July 2008, but down 14.4 percent from August 2007.
The Detroit Three are expected to report significant declines: Chrysler, down 34.0 percent from a year ago; General Motors, down 27.5 percent; and Ford, down 16.3 percent.
Among Japan's Big Three, only Toyota (down 7.2 percent) is expected to post a sales decline from the previous year. Honda sales should rise about 0.9 percent and Nissan, up 2.3 percent.
"We saw a slight improvement in July, but don't expect to see a major recovery for the remainder of the year," said Jesse Toprak, executive director of industry analysis for Edmunds.com. "This month, General Motors sales would have been down at least 30 percent if they hadn't launched their "Employee Discount for Everyone" promotion, but overall the program has not been nearly as effective as its first implementation back in 2005."
The combined market share for the Detroit Three in August is forecast at 45.1 percent, down from 52.1 percent in August 2007 but up from 43.2 percent in July 2008. The U.S. automakers narrowly increased their lead over Japan's Big Three, which were expected to take 37.7 percent of sales in August, up from 33.2 percent in August 2007 but down from 38.1 percent in July 2008.
What this means to you: Compared to a disastrous July, the Detroit-based auto companies saw slight improvements in their sales in August — or, more accurately, they trimmed their losses ever so slightly. — Paul Lienert, Correspondent
Edmunds forecasts August sales will total 1.26 million units, up 11.4 percent from July 2008, but down 14.4 percent from August 2007.
The Detroit Three are expected to report significant declines: Chrysler, down 34.0 percent from a year ago; General Motors, down 27.5 percent; and Ford, down 16.3 percent.
Among Japan's Big Three, only Toyota (down 7.2 percent) is expected to post a sales decline from the previous year. Honda sales should rise about 0.9 percent and Nissan, up 2.3 percent.
"We saw a slight improvement in July, but don't expect to see a major recovery for the remainder of the year," said Jesse Toprak, executive director of industry analysis for Edmunds.com. "This month, General Motors sales would have been down at least 30 percent if they hadn't launched their "Employee Discount for Everyone" promotion, but overall the program has not been nearly as effective as its first implementation back in 2005."
The combined market share for the Detroit Three in August is forecast at 45.1 percent, down from 52.1 percent in August 2007 but up from 43.2 percent in July 2008. The U.S. automakers narrowly increased their lead over Japan's Big Three, which were expected to take 37.7 percent of sales in August, up from 33.2 percent in August 2007 but down from 38.1 percent in July 2008.
What this means to you: Compared to a disastrous July, the Detroit-based auto companies saw slight improvements in their sales in August — or, more accurately, they trimmed their losses ever so slightly. — Paul Lienert, Correspondent
Add A Comment »