US auto sales in July 2014 expected to reach up to 16.8 million in SAAR

Article by Christian Andrei, on July 28, 2014

The growth of auto sales in the United States may have slowed down in July 2014 from a month ago, but forecasts still say that the rate would still be at least 9 percent better than in the same period in 2013, LMC Automotive, Kelley Blue Book, Edmunds.com and TrueCar.com all expect a seasonally adjusted, annualized selling rate of between 16.6 million and 16.8 million in July, compared to a SAAR of 17 million in June.

According to LMC, while retail sales in July will be higher than last month, fleet deliveries will drop nearly 40 percent. Jessica Caldwell, a senior analyst for Edmunds.com said in a statement that the figures in July are the clearest indication that retail buyers are driving market demand.

She remarked that customers ignore news of recalls and rising gas prices and instead focus on affordable interest rates and other incentives that make it easier to purchase a new vehicle.

Due to the good showing in July, LMC hiked its 2014 full-year forecast to 16.3 million vehicles, the same figure expected by KBB. TrueCar, meanwhile, hiked its forecast to 16.35 million.

Carmakers combined posted a 4-percent surge in sales in the first six months of 2014 to 8.16 million vehicles. Jeff Schuster, senior vice president of forecasting for LMC, said in a statement, remarked that the recovery of the US auto industry outpaces that of the US economy.

He said that there would be an upward momentum in US light-vehicle sales if the rest of 2014 keeps pace with recent months and the expected improvement level in the US economy is realized. TrueCar remarked that while incentive spending dropped less than 1 percent from June, it surged 7 percent year-on-year.

Topics: united states, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries