New light-vehicle sales in August continued to decline amid still-shrinking inventory on dealer lots. Sales in August totaled a SAAR of 13.1 million units, the lowest level since June 2020’s 13 million.
Despite production limitations from the chip shortage, new-vehicle demand remains strong among both retail and fleet customers. Our total 2021 forecast for new light vehicles is 16.5 million units.
In the second quarter of 2021, sales totaled a 17.0 million unit SAAR, up slightly from the 16.9 million unit SAAR in the first quarter of 2021.
New light-vehicle sales fell for the second straight month in June.
New light-vehicle sales remained strong in May but fell slightly from April’s highs.
April’s new light-vehicle sales saw an 18.5 million-unit SAAR—the second straight month (following a March revision) of sales above 18.0 million units and the highest monthly sales rate since July 2005 with a 20.6 million SAAR.
The economy continues to show strong signs of recovery from the coronavirus pandemic. The widespread dissemination of the COVID-19 vaccine and the stellar new light-vehicle sales in March are reasons to be optimistic for the remainder of 2021.
New light-vehicle sales in March 2021 were stellar. March’s SAAR of 17.75 million units is the second highest of all time for the month and just shy of March 2000.