Good News for Automakers in August Sales Forecast
New U.S. car sales for the month of August, including fleet sales, are expected to reach 1.46 million units, remaining on track to reach total 2013 sales of 15.6 million units, according to Kelley Blue Book's latest data. The forecast calls for sales to rise 13.6% year-over-year and 11% month-over-month.
Honda Motor Co. Ltd. (NYSE: HMC) is expected to post the largest year-over-year gain, up 17.3%, which Kelley attributes to the company's redesigned Accord, Civic, and CR-V models. Honda also posts a market share gain of 0.3% year-over-year to 10.5%, the biggest gain of any automaker in the Kelley Blue Book data.
Ford Motor Co. (NYSE: F) is expected to post a 9.8% gain year-over-year and maintain its hold on second place in the battle for market share with 14.8% share, just 0.1% better than Toyota Motor Corp. (NYSE: TM). The U.S. market share leader continues to be General Motors Co. (NYSE: GM) which claims 18.7% share.
Full-size pickup truck sales are expected to rise 21.8% above August 2012 sales and up 0.9% from July 2013. Only the compact crossover segment, expected to rise by 22.1% over last August, shows a bigger yearly increase. Pickup truck sales are expected to grow even more in what is traditionally a better time of year for truck sales. Good news for Ford, GM, and Chrysler Group LLC's Ram pickups.
Sales of mid-size cars are forecast to decline by nearly 2% this month compared with August 2012, but the segment still claims the largest market share with 15.8%. A redesigned Toyota Corolla is due out next month and that may push the compact segment's market share, currently at 15.4% and rising, into the top spot.
Filed under: Autos Tagged: F, GM, HMC, TM