The National Automobile Dealers Association (NADA) reported new light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. According to Patrick Manzi, NADA Chief Economist, the August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, an increase of 7.6% year over year. Even so, after seasonal adjustment, August 2024’s SAAR was down slightly. Through the first eight months of the year, raw sales volume totaled 10.5 million units, up 2.2% compared with the same period last year.
As in July,
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