TrueCar Inc. TRUE, -4.13%, the online platform to buy and sell new and used autos, said August sales data suggests the auto industry, which has been plagued by supply problems stemming from chip shortages and logistic issues, "may be turning the corner." Total new vehicle industry sales in August were expected to be up slightly from July and up 9% from a year ago, while used vehicle sales are expected to be up 4% from July but down 17% from last year.

"We're seeing consecutive month over month increases for incentives, while average transaction prices are softening," said TrueCar Industry Analyst Zack Krelle. "Inventory is also slowly growing, and sales are improving slightly." Among some auto companies, the August sales forecast for Ford Motor Co. F, -2.17% is down 3% from July but up 27.6% from a year ago; for General Motors Co. GM, -1.10% is up 6.3% from last month and up 40.9% from last year; and for Tesla Inc. TSLA, -3.19% is up 11.3% on the month and up 105.8% on the year.