Analysts at Edmunds.com say that there are signs of improvement to the US car market after an initially sharp dip that followed the ending of ‘Cash for Clunkers’.
Edmunds says the US light vehicle market SAAR (Seasonally Adjusted Annual Rate) for the first week of September is approximately 8.9m. Of the vehicles sold so far this month, 3.6 percent are “hold-over” Cash for Clunkers orders that are being delivered.
Edmunds.com CEO Jeremy Anwyl said: “The industry is still experiencing a depressed level of sales, but we’re seeing modest improvement from week to week. Soon we should surpass the level that the industry was at before Cash for Clunkers launched.”
Edmunds said that the SAAR in the period August 25-31 was 8.3m with clunker sales at 6.4% of the total. In the September 1-5 period the SAAR had picked up to 8.9m with clunker sales at 3.6% of the total.