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

Article by Christian A., 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

Recommended

A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 20, 2017
A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 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