Clearance deals could push auto sales to biggest August since 2003

(August 29, 2014) SANTA MONICA, Calif. — forecasts that 1,511,438 new cars and trucks will be sold in the U.S. in August for an estimated Seasonally Adjusted Annual Rate (SAAR) of 16.9 million. The projected sales will be a 5.5 percent increase from July 2014, and a 0.7 percent increase from August 2013. projects that this month's sales could hit the highest August sales volume since August 2003, when the industry delivered 1,628,365 new cars.

"August is a huge month for dealers who need to clear out 2014 models to make room for 2015 inventory," says Senior Analyst Jessica Caldwell. "TV and radio airwaves are filled with these clearance deals and they're helping to push hesitant car shoppers into 'buy now' mode." estimates that retail SAAR will come in at 14.7 million vehicles in August, with fleet transactions accounting for 13.0 percent of total sales. An estimated 2.95 million used cars will be sold in August, for a SAAR of 35.9 million (compared to 3.24 million — or a SAAR of 36.5 million — used car sales in July).