U.S. auto sales to grow by 17.2 percent in August, forecast says image

New car pricing, trends and forecasting information specialist TrueCar.com today released the August 2012 sales and incentives forecast.

According to the website, new light vehicle sales in the U.S. are expected to reach 1,255,392 units in August, up 17.2 percent from August 2011 and up 8.9 percent from July 2012. The figures include sales of fleet vehicles.

Based on TrueCar’s August forecast, the Seasonally Adjusted Annualized Rate (SAAR) would be 14.2 million new car sales, up from 12.1 million in August 2011 and up from 14.1 million in July 2012. As far as retail sales are concerned, TrueCar.com predicts a growth of 14.3 percent compared to August 2011 and of 9.7 percent from July 2012.

Fleet and rental sales are expected to make up 18.1 percent of total industry sales in August 2012, according to the same forecast, while the industry average incentive spending per unit will be approximately $2,457, a decrease of 6 percent from August 2011 and a decrease of 2 percent from July 2012.

TrueCar.com also estimates used car sales to reach 3,991,033, an increase of 4.7 percent from August 2011 and a decrease of 13.3 percent from July 2012. the ratio of new to used is estimated to be 1:4 for August 2012.