Not good. Pronounced slowdown. Negative contribution to growth:
Based on a preliminary estimate from WardsAuto (ex-Porsche), light vehicle sales were at a 16.89 million SAAR in August.
That is down about 5% from August 2015, and down 5.0% from the 17.77 million annual sales rate last month.
The bulk of August’s sales data is out and vehicle sales are running below July, roughly in the low 13 million annualized area for North American-made models vs 14.3 million in July. Though sales levels remain solid, the decline from July points to trouble for the August retail sales report. Final sales totals will be posted at day’s end.