- According to TrueCar total new vehicle industry sales is expected to reach 1,152,846 units in August 2022, up 9% Y/Y, and slightly up from July 2022.
- Excluding fleet sales, U.S. retail deliveries of new cars and light trucks is expected to be 1,015,575 units, up 6% Y/Y and up about 3% from July 2022.
- August seasonally adjusted annualized rate (or SAAR) for total light vehicle industry sales is an estimated 13M, down 14% Y/Y.
- Incentive spend is down 52% Y/Y but up 9% from previous month.
- Used vehicle sales for August 2022 are expected to reach 3M, down 17% Y/Y and up 4% from July 2022.
- Average interest rate on new vehicles is 5.7% compared to July 2022 at 5.6% and the average interest rate on used vehicles is 8.7%.
- Car Manufacturers to watch: Ford (F), Honda Motor (HMC); General Motors (GM); Nissan (OTCPK:NSANY) (OTCPK:NSANF); Hyundai Motor (OTCPK:HYMLF) (OTCPK:HYMTF) (OTCPK:HYMPY); Tesla (TSLA); Toyota Motor (TM); Volkswagen (OTCPK:VWAGY) (OTCPK:VLKAF), Daimler (OTCPK:DTRUY), Bayerische Motoren Werke Aktiengesellschaft (OTCPK:BMWYY).