Edmunds is forecasting August sales of 1.53 million new cars and trucks in the United States, which would be an 8.2 percent jump over July and a 1.3 percent increase over August 2016.
The strong month would reflect an estimated seasonally adjusted annual rate of 16.6 million units.
“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,” said Jessica Caldwell, executive director of industry analysis for Edmunds. “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. We’re also seeing signs of discipline with fleet sales as automakers prioritize higher-margin retail sales.”
Edmunds expects General Motors to have a good month, forecasting sales of 261,183 units – a nearly 16 percent increase over July.
Likewise, Fiat Chrysler will enjoy a 16 percent jump in sales compared to July, with Edmunds forecasting sales of 187,472 units. However, Fiat Chrysler’s August 2017 sales will be nearly 5 percent lower than its August 2016 sales, Edmunds predicts.