US June Auto Sales Could Reach 65-Month High
Automakers will release June vehicle sales next Tuesday (July 2) and currently, analysts estimate June sales to be at or above 15.5 million (seasonally adjusted and annualized). It will represent the highest level since 65 months.
Here are some forecasts from specialists:
Edmunds.com, the premier resource for car shopping and automotive information, forecasts that 1,365,496 new cars and trucks will be sold in the U.S. in June for an estimated Seasonally Adjusted Annual Rate (SAAR) this month of 15.5 million light vehicles. The projected sales will be a 5.3 percent decrease from May, but a 6.3 percent increase from June 2012. This month’s sales performance is expected deliver the biggest volume and SAAR for the month of June since 2007.
“Within the last month we saw a slowing stock market and a stalled unemployment recovery, but the automotive market continues to shine through it all,” says Edmunds.com Senior Analyst Jessica Caldwell. “The first half of 2013 was every bit as strong as the auto industry could expect at the beginning of the year, and there’s no reason why the next six months can’t maintain the same momentum.”
“Despite the lackluster performance in financial markets in June, new vehicle sales reached their highest levels in six years – yet more proof that the recent surge in consumer demand is real and not going anywhere,” said Jesse Toprak, senior analyst for TrueCar.com. “The better news for the automakers is that they are back to selling nearly 16 million units a year collectively while spending less on incentives, thanks to the best selection of vehicles ever in their showrooms; product is the king once again.”
LMC Automotive continues to hold the outlook for total light-vehicle sales in 2013 at 15.4 million units, but has increased its forecast for retail light-vehicle sales to 12.6 million units from 12.5 million units, as retail sales growth expands.
“There is little question that the automotive market has strong momentum as we close out the first half of 2013,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive. “Looking forward, all the key fundamentals are in alignment to continue the current growth trend, with production capacity limitations being the only major visible risk.”
Growing consumer confidence, pent-up demand and healthy inventories should help lift the U.S. light-vehicle market to a seasonally adjusted annual sales rate of 15.8 million units in June, WardsAuto forecasts.
That would mark the highest monthly rate since November 2007, when the SAAR topped 16 million units for the last time prior to the recession.
5/ Kelley Blue Book: Sees U.S. New Car Sales Up 6% in June
Sales of new cars in the U.S. are expected to jump 6% in June from a year earlier, according to Kelley Blue Book.
The car-information provider estimated June’s sales volume at 1.36 million vehicles, up from 1.29 million a year ago.
The June forecast translates into a seasonally adjusted annualized rate of 15.5 million, the highest SAAR since November 2012. There was one fewer selling day this June compared with last year.