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August New-Car Sales Break Seven-Month Negative Streak, Longest Since 2009, With Nearly 2 Percent Year-Over-Year Increase, According To Kelley Blue Book

IRVINE, Calif., Aug. 24, 2017 /PRNewswire/ -- New-vehicle sales are expected to rise 1.5 percent year-over-year to a total of 1.53 million units in August 2017, resulting in an estimated 16.6 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book www.kbb.com.  

Kelley Blue Book Logo. (PRNewsFoto/Kelley Blue Book)

"August should be the first year-over-year increase of 2017, due in part to an extra selling day this month," said Tim Fleming, analyst for Kelley Blue Book. "This sales improvement would break a seven-month negative streak, the longest since the recession in 2009. Kelley Blue Book expects SAAR to remain relatively consistent from last month at 16.6 million. Fleet sales are expected to be down 4 percent, while retail sales are still holding strong and are projected to grow 2 percent in August 2017. However, incentives average more than 10 percent of transaction prices and are helping support retail growth. For the year, fleet sales are down more than 10 percent, so an increase in fleet orders could be on the horizon and provide a sales lift later this year."

After a record year of sales in 2016 and seven consecutive annual increases, Kelley Blue Book's forecast for 2017 calls for sales in the range of 16.8 and 17.3 million units, which represents a 1 to 4 percent decrease from last year.

Key Highlights for Estimated August 2017 Sales Forecast:

  • In August, new light-vehicle sales, including fleet, are expected to hit 1,530,000 units, up 1.5 percent compared to August 2016 and up 8.5 percent from July 2017.
  • The seasonally adjusted annual rate for August 2017 is estimated to be 16.6 million, down from 17.1 million in August 2016 and down from 16.7 million in July 2017.
  • Retail sales are expected to account for 86.1 percent of volume in August 2017, up from 85.3 percent in August 2016.

Mixed Results Expected from Automakers This Month; Subaru to Have Highest Ever Monthly Market Share

Kelley Blue Book anticipates mixed results from automakers for this month. General Motors could gain the most market share of the major manufacturers on the strength of its SUVs and trucks. GM has introduced a host of new utility vehicles in the past year, hitting the market at the right time, and as a result, the Chevrolet Equinox, GMC Acadia and Chevrolet Traverse should report significant sales increases. GM trucks also should have a strong month and help outweigh considerable declines from their car lineup. GM's light trucks could represent 80 percent of their sales volume in August, up from 70 percent just one year ago.

Another successful brand for August 2017 is Subaru, which could grow more than 7 percent. In fact, Kelley Blue Book projects Subaru's highest ever monthly market share at 4.2 percent. With current growth led by the Impreza and Outback, Subaru is poised for continued success with the redesigned Crosstrek to launch soon.

 

Sales Volume 1

Market Share 2

Manufacturer

Aug-17

Aug-16

YOY %

Aug-17

Aug-16

YOY %

General Motors (Buick, Cadillac, Chevrolet, GMC)

272,000

256,429

6.1%

17.8%

17.0%

0.8%

Toyota Motor Company (Lexus, Scion, Toyota)

227,000

213,125

6.5%

14.8%

14.1%

0.7%

Ford Motor Company (Ford, Lincoln)

206,000

213,411

-3.5%

13.5%

14.2%

-0.7%

Fiat Chrysler (Chrysler, Dodge, FIAT, Jeep, RAM)

190,000

196,805

-3.5%

12.4%

13.1%

-0.6%

American Honda (Acura, Honda)

159,000

149,571

6.3%

10.4%

9.9%

0.5%

Nissan North America (Infiniti, Nissan)

127,000

124,638

1.9%

8.3%

8.3%

0.0%

Hyundai-Kia

120,000

126,263

-5.0%

7.8%

8.4%

-0.5%

Subaru of America

65,000

60,418

7.6%

4.2%

4.0%

0.2%

Volkswagen Group (Audi, Volkswagen, Porsche)

56,000

53,829

4.0%

3.7%

3.6%

0.1%

Total 3

1,530,000

1,507,354

1.5%

-

-

-

1 Historical data from OEM sales announcements

2 Kelley Blue Book Automotive Insights

3 Includes brands not shown

Toyota, Honda to Try to Revive Consumer Interest in Mid-Size Cars; Compact SUVs Remain Firmly Above All Other Segments

Mid-size cars continue to struggle in the marketplace with the segment's market share falling close to 10 percent. This segment is down 18 percent for the year, although both Toyota and Honda will try to revive consumer interest with a new Camry and Accord later this year. It's a tall task as shoppers are increasingly switching into small SUVs instead, where there are now more models to choose from.

Compact SUVs remain firmly above all other segments and could reach nearly 19 percent market share in August 2017. Worth watching for the remainder of the year is the close race for the top-selling SUV between Nissan Rogue, Toyota RAV4 and Honda CR-V.

 

Sales Volume 1

Market Share

Segment

Aug-17

Aug-16

YOY %

Aug-17

Aug-16

YOY %

Compact SUV/Crossover

286,000

271,347

5.4%

18.7%

18.0%

0.7%

Full-Size Pickup Truck

202,000

188,220

7.3%

13.2%

12.5%

0.7%

Compact Car

200,000

197,143

1.4%

13.1%

13.1%

0.0%

Mid-Size SUV/Crossover

192,000

177,270

8.3%

12.5%

11.8%

0.8%

Mid-Size Car

155,000

164,414

-5.7%

10.1%

10.9%

-0.8%

Total 2

1,530,000

1,507,354

1.5%

-

-

-

1 Kelley Blue Book Automotive Insights

2 Includes segments not shown

There are 27 sales days in August 2017 compared to 26 sales days in August 2016.  All percentages are based on raw volume, not daily selling rate.  

To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to schedule an interview.

For more information and news from Kelley Blue Book's KBB.com, visit http://www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.

About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week.  The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies.  Kelley Blue Book Co., Inc. is a Cox Automotive™ brand.

About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 32,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

 

 

SOURCE Kelley Blue Book

For further information: Andrew Nicolai, 949-293-5241, andrew.nicolai@coxautoinc.com, Brenna Buehler, 949-267-4781, brenna.buehler@kbb.com, Michelle Behar, 949-268-4259, michelle.behar@coxautoinc.com

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