US auto sales set to rise in August on Labor Day weekend surge, report shows

New vehicle sales in the U.S. are expected to rise by over 4% in August, aided by the Labor Day weekend, resulting in expected sales of 1,437,954 units. Despite this, sales on a seasonally adjusted annualised rate basis are likely to remain flat. Rising discounts and falling transaction prices are contributing factors, while the industry faces challenges from reduced leasing activity three years ago.