After seven consecutive months of declining vehicle sales in the U.S., it appears that August could be the first positive sales month in 2017.
LMC Automotive, Edmunds and Kelley Blue Book all anticipate August to be the first month of increased sales since December with a rise of approximately one per cent estimated.
Speaking to AutoNews, Edmunds’ executive director of industry analysis, Jessica Caldwell said that the small sales growth is only a small positive step.
“While any kind of sales lift after seven months of declines is encouraging, automakers still have a long road ahead to have a strong close to the year.
“It's a small step in the right direction. Inventories are still high, but automakers haven't been afraid to put cash on the hood this year, so we expect dealers will be aggressive with their Labor Day and model-year-end sales events to keep this momentum going,” she said.
Based on current trends, analysts project 16.6 million total vehicle sales in the U.S. in 2017, significantly less than the 17.55 million sold in 2016.
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