by Bill McBride on 9/01/2016 03:09:00 PM
Thursday, September 01, 2016
Based on a preliminary estimate from WardsAuto (ex-Porsche), light vehicle sales were at a 16.89 million SAAR in August.
That is down about 5% from August 2015, and down 5.0% from the 17.77 million annual sales rate last month.
Click on graph for larger image.
This graph shows the historical light vehicle sales from the BEA (blue) and an estimate for August (red, light vehicle sales of 16.89 million SAAR from WardsAuto).
This was below the consensus forecast of 17.1 million SAAR (seasonally adjusted annual rate).
The second graph shows light vehicle sales since the BEA started keeping data in 1967.
Note: dashed line is current estimated sales rate.
Sales for 2016 - through the first eight months - are up slightly from the comparable period last year.
After increasing significantly for several years following the financial crisis, auto sales are now moving mostly sideways ...