- Automobile prices in the U.S. rose 0.1% M/M and 2.1% Y/Y during July, according to estimates from Kelley Blue Book.
- The increase is due largely to a slight shift in mix toward SUVs and crossovers. General Motors (GM -0.4%), Chrysler (FIATY), and Volkswagen (VLKAY) showed the biggest gains of the major automakers.
- Edmunds sees the overall industry selling rate to be right at 16.8M units for the month.
- Truecar.com has its eyes on the incentives being offered by dealerships. The firm estimates incentive spending was up 8.4% Y/Y in July to mark the biggest jump since 2010 as automakers looked to clear inventory.
- July U.S. sales gains: GM +9.4%, Ford (NYSE:F) +9.5, Toyota (NYSE:TM) +11.6%, Nissan +11.4 (OTCPK:NSANY), Chrysler +19.7%.