New car sales have been softening in recent months, and the sales report due on Thursday is likely to confirm that the industry slipped into reverse in August. The predictions make us understand that sales of new cars and light trucks will fall 2.5 percent in August, to 1.53 million vehicles.
That comes after growth of just 0.7 percent in July. The recent trend of weaker auto sales suggests that the industry reached its peak in 2015, when sales hit a record 17.4 million. A decline this year would end a streak of six consecutive years of growth. The mix of sales is divided, with demand for utility vehicles continuing to grow at the same time that car sales are falling. For consumers, the report suggests where they might find the best deals.
Find more here: Drop expected in U.S. auto Industry sales