WESTLAKE VILLAGE, Calif., Aug. 31 /PRNewswire/ -- New-vehicle retail sales in the last week of August slowed considerably, pulling down the August selling rate below 8.5 million units, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States.
For total sales, the seasonally adjusted annualized rate (SAAR) is expected to come in below 11.4 million units, with fleet sales offsetting some of the weakness in retail sales.
"With mixed economic signals and flat incentive levels, there hasn't been enough horsepower behind the recovery to motivate consumers to regain their confidence and purchase vehicles at a higher rate," said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. "In addition, it's likely that new-vehicle buyers are holding off on purchases in anticipation of Labor Day incentives, which may benefit September sales."
J.D. Power and Associates will be tracking new-vehicle sales as they are announced by auto manufacturers on September 1 and will have automotive analysts available for both print and broadcast interviews after 8:00 a.m. E.T./5:00 a.m. P.T.
To schedule an interview, please contact:
John Tews; Troy, Mich.; (248) 312-4119; email@example.com
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; firstname.lastname@example.org
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.
SOURCE J.D. Power and Associates