Vehicle inventory continues to restrain sales.
New-vehicle retail sales for August 2022 are expected to decline when compared with August 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 980,400 units, a 2.6% decrease compared with August 2021 when adjusted for selling days. August 2022 has one additional selling day compared with August 2021. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 1.3% from 2021.
It should be noted that August 2021 was the first month