Forecast groups expect 16-percent increase in US auto sales in June

Article by Anita Panait, on June 23, 2012

Vehicle sales in the U.S. are expected to grow 16 percent year-on-year for the month of June to 1.3 million units, according to J.D. Power and LMC Automotive. According to the forecasting groups, fleet customers like rental car companies will account for 21 percent of total sales. They also expect the annualized sales rate in US to rise slightly to 13.9 million units in June from 13.7 million annualized sales rate in May.

Although the June figure will be higher than in May, it will still be lower than the 14 million annualized sales that the US auto industry posted during the first four months of 2012 J.D. Power and LMC, which adjusts their percentage changes based on the number of selling days in each month, expects that total light vehicle sales will reach 14.5 million units in 2012.

Jeff Schuster, senior vice president of forecasting at LMC, said that although there are increased concerns on the macroeconomic environment and potential summer slowdown, the sales pace throughout the second half of the year will remain strong and stable. Although the demand for hybrid and electric vehicles has declined as pump prices have continued to fall since April, they are expected to account for 3.2 percent of auto sales in 2012.

LMC said that many carmakers are logging year-over-year retail sales gains in June while maintaining strong new-vehicle prices. Average incentive levels in June 2012 were up 9 percent from June 2011 but down 5 percent from May 2012. The current US market situation points to a healthy US auto industry, according to LMC.

If you liked the article, share on:

Comments

Recommended

As seasons change, temperatures rise and fall. The changes affect our preferences when it comes to driving cars. Therefore, Aston Martin introduces the new DB11 Volante or convertible, and it...
by - October 16, 2017
Aston Martin may be known for building many of the stylish Bond cars we see on the big screen but nobody really knew how it can get super aggressive when...
by - October 16, 2017
Today, manual transmissions have become rare in mainstream cars and are more commonly found in performance cars within the $20,000 to $40,000 range. However, the selection of affordable, three-pedal performance...
by - October 16, 2017
We expected to see the BMW i8 Roadster at last month’s 2017 Frankfurt Motor Show, but it never made an appearance. So the question on fans’ lips now is when...
by - October 16, 2017
Jaguar has just released the first official image of its newest offering, the new Jaguar XEL. Essentially the long-wheelbase version of the Jaguar XE compact sedan, the new Jaguar XEL...
by - October 14, 2017
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