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.

If you liked the article, share on:

Topics: united states, sales

Comments

Recommended

Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 2017
Automotive industry veteran Bob Lutz has once again spoken out against Tesla. Known as one of Tesla Motors’ greatest skeptics, Lutz had stated two years ago that the Silicon Valley...
by - November 22, 2017
Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 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