Crossovers, Pickup Trucks Lift August Sales Nearly 14%

New-vehicle sales are expected improve 13.6 percent in August 2013 to a total of 1.46 million units, according to Kelley Blue Book, a provider of new- and used-car information. 

While affordable financing and generous incentive offers continue to more than offset any downside risk associated with steadily rising average transaction prices, low supply continues to impede the growth of major automakers such as Ford, Subaru and Hyundai. Given current market conditions, Kelley Blue Book believes that sales will remain on track to hit 15.6 million units in 2013. 

The growth in the truck segment appears to have no end in sight, thanks in large part to the rise in new home construction taking place across the United States.  In addition to gains attributed to the housing market, the auto industry is heading into the time of year where truck sales tend to ramp up.  With seasonal demand predicted to increase during the next few months, Kelley Blue Book expects growth in the full-size pickup truck segment to continue unabated.

"The mid-size car segment, which had many redesigned models introduced last year, is expected to be down nearly 2 percent in market share and is being challenged by compact cars for the top segment, while both the large truck and compact crossover segments are seeing the most improvement, up nearly 1 percent," said Tim Fleming, analyst at Kelley Blue Book.  "The launch of the new Toyota Corolla next month could provide the necessary sales for compact cars to become the leading segment in the industry."