Sales expected to gain over storm-ravaged month last year

Article Highlights

1. U.S. light-vehicle sales in August are expected to rise from year-ago levels, when two major hurricanes crippled new-car transactions in some of the country's largest vehicle markets, according to three forecasts.
2. Cox Automotive projects a gain of about 1 percent for the month. Sales events tied to Labor Day are expected to fuel much of the increase, even though transactions completed over Labor Day weekend will count toward September.
3. "The market remains strong, and all the talk of higher interest rates and trade tariffs is not chasing away buyers," Charlie Chesbrough, senior economist at Cox Automotive, said in a statement. "However, we are still forecasting a slowing sales pace over the remaining months of the year as buying conditions slowly deteriorate due mostly to higher interest rates and continued high gasoline prices."