US new vehicle retail sales in the last week of August slowed considerably, pulling down the August selling rate below 8.5m units, according to JD Power and Associates.
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For total sales, the seasonally adjusted annualised rate (SAAR) is expected to come in below 11.4m units, with fleet sales offsetting some of the weakness in retail sales.
“With mixed economic signals and flat incentive levels, there hasn’t been enough horsepower behind the recovery to motivate consumers to regain their confidence and purchase vehicles at a higher rate,” said Jeff Schuster, JDP’s executive director of global forecasting. “In addition, it’s likely that new vehicle buyers are holding off on purchases in anticipation of Labour Day incentives, which may benefit September sales.”
