US light vehicle SAAR in June 2013 was 15.98 million

Article by Anita Panait, on July 3, 2013

Light vehicle sales in the United States soared 9 percent in June 2013, led by Ford Motor Co. and Nissan Motor Co. The US light vehicle sales in the month exceeded expectations and provided new signs that the auto industry will continue to recover in the second half of 2013. The seasonally adjusted annual sales rate for June 2013 surpassed even the most positive forecasts, soaring to 15.98 million in the month from 14.4 million a year ago.

The June SAAR marks a new high in the current recovery cycle. The SAAR has topped 15 million units every month since November 2012, except on April 2013. Bill Fay, general manager of the Toyota division, remarked that the auto industry "had a great month" in June, adding that it was "easily the best June in six years." He remarked that 16 million SAAR mark is now within the industry's reach. He said that the sales momentum is expected to continue to the rest of the summer.

Vehicles sales in the US gained 8 percent to 7.8 million units in the first six months of 2013. Analysts forecast that the light vehicle sales in the US for 2013 will reach between 15.3 million and 15.5 million units, compared with 14.49 million in 2012. General Motors' chief economist, Mustafa Mohatarem, said in a statement that families in the US are now "better off" than they were at the beginning of 2013.

He noted that US families now believe that the economic growth is going to continue. He noted that even moderate economic growth will be ample to keep the vehicles sales rate in the second half of 2013 at "healthy levels" at around the mid-15 million units. Ford and Nissan each posted a 13-percent jump in US deliveries in June 2013, while Toyota and Honda each surged 10 percent. GM and Chrysler logged a 7-percent and 8-percent increase in sales, respectively. [source: automotive news - sub. required]

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