The seasonally adjusted annualized rate for June 2013 will reach 15.7 million units, according to LMC Automotive. The forecaster said sales for June 2013 are expected to rise 8 percent year-on-year to 1.4 million vehicles. The seasonally adjusted annualized rate in May 2013 was 15.2 million. Jeff Schuster, LMC's senior vice president of forecasting, said in a statement, that there is “little question” that the automotive market has strong momentum at the end of the first half of 2013.
He remarked that key fundamentals are all aligned to continue the current growth trend, adding that limitations on production capacity are the only major visible risk. June 2013 results are expected to be out on July 2. LMC reiterated its full-year 2013 light-vehicle sales forecast of 15.4 million units, reflecting a 6-percent increase over 2012, when 14.5 million units were sold.
LMC, however, hiked its retail forecast for 2013 by 100,000 units, to 12.6 million. The forecaster also expects a 10-percent gain in retail sales for June 2013 and a retail SAAR of 13.2 million.
LMC's forecasts -- based on J.D. Power and Associates transaction data for the first half of June -- have underestimated the industry's sales performance in January, February and May 2013 and overestimated it slightly in March and April.
LMC remarked that light-vehicle output in North America for the first half of 2013 is up nearly 5 percent from 2013, led by Ford Motor Co. with a 16-percent production surge. [source: Reuters]