Edmunds Analyst Believes 2015 Could Be ‘Year To Remember’ For Auto Sales

Labor Day may come later this year, but that didn’t stop automakers from maintaining a strong pace for the month of August. Despite Labor Day sales being counted as part of September, auto sales remained steadily strong. Jessica Caldwell, senior analyst with Edmunds.com weighed in on the latest figures. In a statement, Caldwell explained “Sales momentum in August has been strong despite recent stock market fluctuations. The fact that we will likely see a year-over-year decline in sales isn’t a troubling sign because last August was a monster month that included Labor Day weekend.” The SAAR for August hit 17.3 million, down slightly from the 17.4 million pace of August. Many automakers posted impressive or at least better-than-expected numbers for the month of August. Here are some of the year-over-year auto sales figures among major automakers:

GM -0.7%

Ford +5.4%

FCA 1.7%

Nissan -0.8%

Honda -6.9%

Toyota -8.8%

Audi +9.9%

VW -8.8%

Tesla Motors +13.3%

Hyundai +7.7%

For many automakers, reality proved to be stronger than previous predictions. For example, Toyota declined in YOY sales 8.8 percent, beating what some analysts predicted would be a 12 percent drop from August 2014. FCA was predicted to rise 0.4 percent and also beat expectations by 1.3 percent. As expectations are bested, the outlook for the rest of the year begins to take shape. In an emailed statement to DrivingSales News, Edmunds.com analyst Jeremy Acevedo provided further insight into the state of automotive sales. In a statement, Acevedo explained, “In 2015 we are slated to top the 17 million new vehicle sales mark for the first time since 2001. And the current growth rate looks like it will continue in September and into Q4. If the sales momentum continues through the closing months of the year, 2015 will be remembered as a banner year for the automotive industry with sales easily eclipsing even the healthiest pre-recessionary years.” There are four months left in 2015. Do you still believe that 17 million units is a reasonable goal for this year?