Clunkers Comparison And H2 Slowdown Drag On August Car Sales

US new vehicle sales in August fell to their lowest levels since August 1983, bringing the seasonally adjusted annual sales rate (SAAR) down in line with BMI's consistently maintained full-year forecast of 10.8mn units. While the 'cash for clunkers' scrappage scheme of August 2009 created an artificial spike in sales, which will naturally distort year-on-year (y-o-y) comparisons, a look back to July shows that the deceleration in sales growth that we expected in H210, related to overall slower economic growth, is playing

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