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

The Europe-bound WRC hatch developed by Toyota and Gazoo Racing team will be limited to just 400 examples as reported by AutoCar this week. Otherwise known as Gazoo Racing Masters...
by - July 21, 2017
Even cops get excited when they’re assigned to drive the best cars in the market. In Austria, police officers drive around in a Porsche 911 Carrera while in Milan, authorities...
by - July 21, 2017
Subaru has already announced that the all new Impreza will be out by fall this year. The 2018 model year not only gets a number of new upgrades, but it...
by - July 21, 2017
Do you ever wonder what challenges automakers have in selling limited edition cars? It’s different for each company but it can get stressful if the demand is high instead of...
by - July 21, 2017
Alpine is said to be developing an SUV which is believed to be the Porsche Macan’s closest rival. According to AutoExpress, the newly revived performance brand has been looking to...
by - July 20, 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