IRVINE, Calif. —New-vehicle sales through August have fallen 2.8% from the year-ago period to 11,308,631 units, according to Kelley Blue Book’s Monthly Light Vehicle Sales Report for August.
The month of August posted a seasonally adjusted annual rate (SAAR) of 16 million, compared to 16.9 million in August 2016. This was the lowest SAAR for the month of August in four years. The lone bright spot so far in 2017 have been large vehicles.
Out of the 22 vehicle segments tracked monthly by Kelley Blue Book, only 10 posted higher sales numbers compared to the first eight months of 2016. Of those 10, large vehicles commanded eight of those spots.
As for cars, every single segment posted year-over-year declines in sales through August.
The firm noted that retail demand for crossovers continues to grow, with the segment accounting for six of the 10 segments to post year-over-year sales gains. The segment also posted some of the highest sales gains, with subcompact SUV/crossover sales rising 10.9% from a year ago and luxury compact SUV/crossover sales rising by 20.7%.
Retail demand for more fuel-efficient alternative-fuel vehicles has also been on the upswing this year. Electric vehicles posted the highest percentage growth in sales among all vehicle segments tracked. However, the total number of vehicles in this class that have been sold so far this year is still a relatively small drop in the overall new-vehicle sales bucket.