J.D. Power and Associates: U.S. auto sales to hit 1 million mark in Aug.

There is no doubt that the government’s Cash for Clunkers program has provided a boost to U.S. auto sales. According to J.D. Power and Associates, U.S. monthly auto sales will rise above the 1 million unit mark for the first time this year in August.

Based on data gathered from 10,000 dealers across the country during the first 13 selling days of August, J.D. Power and Associates anticipates that U.S. auto sales volume fo rjune could be as high as 1.1 million units.

The company says that the full year forecast is estimated to come in at 10.3 million vehicles, up from the 10 million predicted in April

Just as a reminder, the Cash for Clunkers program will end Monday at 8:00 p.m. (Eastern Time).

– By: Stephen Calogera

Source: MSNBC