Edmunds.com Forecasts July Auto Sales: Industry Down Approximately Four Percent From Last Year
SEE ALSO: New Car Buyers Guide
SANTA MONICA, Calif.--This month's new vehicle sales (including fleet sales) are expected to be 1.37 million units, a 7.9 percent decrease from July 2006, according to Edmunds.com, the premier online resource for automotive information.
This July had 24 selling days, one less than July 2006. When adjusted for this difference, sales are expected to decrease 4.1 percent from July 2006. (The chart below sets forth other adjusted and unadjusted projections.)
|Change from July 2006 (Adjusted for more selling days)||Change from July 2006 (Unadjusted for more selling days)|
"Manufacturer incentives on year-end model vehicles have not been as effective as in previous years getting consumers into dealerships to purchase vehicles," observed Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "In addition, some of the slowdown we’re seeing is because of a weakness in consumer demand due to gas prices and housing market woes."
"The summer of 2007 is turning out to be rather unusual compared to summers of the recent past, “said Michelle Krebs, Senior Editor of Edmunds’ AutoObserver.com. “We aren't seeing the big blow-out, model year-end incentives to clean up leftover inventories, which in recent years has been led by GM."
The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 51.5 percent in July 2007, down from 53.3 percent in July 2006 and up slightly from 51.4 percent in June 2007.
Edmunds.com predicts Chrysler will sell 161,000 units in July 2007, up 7.3 percent compared to July 2006. This would result in a new car market share of 11.8 percent for Chrysler in July 2007, up from 10.1 percent in July 2006 and down from 12.6 percent in June 2007.
Edmunds.com predicts Ford will sell 211,000 units in July 2007, down 10.5 percent compared to July 2006. This would result in a market share of 15.4 percent of new car sales in July 2007 for Ford, down from 15.9 percent in July 2006 and down from 16.6 percent in June 2007.
Edmunds.com predicts GM will sell 333,000 units in July 2007, down 18.1 percent compared to July 2006. GM's market share is expected to be 24.3 percent of new vehicle sales in July 2007, down from 27.3 percent in July 2006 and up from 22.2 percent in June 2007.
Edmunds.com predicts Honda will sell 139,000 units in July 2007, down 8.4 percent from July 2006. Its market share is expected to be 10.1 percent in July 2007, down slightly from 10.2 percent in July 2006 and up from 9.7 percent in June 2007.
Edmunds.com predicts Nissan will sell 87,000 units in July 2007, up 1.0 percent from July 2006. Nissan's market share is expected to be 6.4 percent in July 2007, up from 5.8 percent in July 2006 and unchanged at 6.4 percent in June 2007.
Edmunds.com predicts Toyota will sell 233,000 units in July 2007, down 3.7 percent from July 2006. Toyota's market share is expected to be 17.0 percent in July 2007, up from 16.2 percent in July 2006 and unchanged at 17.0 percent from June 2007.
About Edmunds Inc. (http://www.edmunds.com/help/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.