J.D. Power and GlobalData forecast fifth consecutive month of double-digit sales growth and record spending on new vehicles.
Total new-vehicle sales for August 2023, including retail and non-retail transactions, are projected to reach 1,354,600 units, a 15.4% increase from August 2022, according to a joint forecast from J.D. Power and GlobalData. August 2023 has 27 selling days, one more than August 2022. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 19.9% from a year ago.
The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.3
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