Auto Sales to Reach Highest July Mark in Eight Years


toyota corolla
2014 Toyota Corolla

SANTA MONICA, CA --July 24, 2014: Edmunds.com forecasts that 1,461,290 new cars and trucks will be sold in the U.S. in July, for an estimated Seasonally Adjusted Annual Rate (SAAR) of 16.8 million. This would be the highest July sales since the auto industry delivered 1.49 million new car sales in July 2006.

"July's performance is the clearest indication yet that retail buyers are driving market demand," says Edmunds.com Senior Analyst Jessica Caldwell. "Shoppers are looking past news of recalls and rising gas prices and they're finding affordable interest rates and other incentives that make it easier to buy a new car."

SALES VOLUME FORECAST, BY MANUFACTURER

 

Sales Volume

Jul-14 Forecast

Jul-13

Jun-14

Change from Jul 2013*

Change from Jun 2014*

GM

258,966

234,071

267,461

10.6%

-3.2%

Toyota

217,314

193,394

201,714

12.4%

7.7%

Ford

212,714

193,080

221,396

10.2%

-3.9%

Chrysler Group

170,659

140,102

171,086

21.8%

-0.2%

Honda

144,701

141,439

129,023

2.3%

12.2%

Hyundai/Kia

126,937

115,009

118,051

10.4%

7.5%

Nissan

123,653

109,041

109,643

13.4%

12.8%

VW/Audi

48,379

48,843

45,694

-0.9%

5.9%

Industry

1,461,290

1,314,891

1,419,090

11.1%

3.0%

*NOTE: July 2014 had 26 selling days, July 2013 had 25 and June 2014 had 24.

Edmunds.com estimates that retail SAAR will come in at 14.5 million vehicles in July, with fleet transactions accounting for 13.8 percent of total sales. An estimated 3.22 million used cars will be sold in July, for a SAAR of 36.2 million (compared to 2.94 million – or a SAAR of 36.7 million – used car sales in June).

AUTOMAKER PERFORMANCE

Edmunds.com projects that Toyota will post the most notable sales performance in July. The forecast anticipates that the Japanese automaker will see sales grow 12.4 percent year over year and 7.7 percent month over month. As a result, Toyota is poised to surpass Ford as the second best-selling manufacturer for the first month since August 2013.

 

MARKET SHARE FORECAST, BY MANUFACTURER

 

Market Share

Jul-14 Forecast

Jul-13

Jun-14

Change from

July 2013

(Percentage pts.)

Change from June 2014

(Percentage pts.)

GM

17.7%

17.8%

18.8%

-0.1%

-1.1%

Toyota

14.9%

14.7%

14.2%

0.2%

0.7%

Ford

14.6%

14.7%

15.6%

-0.1%

-1.0%

Chrysler Group

11.7%

10.7%

12.1%

1.0%

-0.4%

Honda

9.9%

10.8%

9.1%

-0.9%

0.8%

Hyundai/Kia

8.7%

8.7%

8.3%

-0.1%

0.4%

Nissan

8.5%

8.3%

7.7%

0.2%

0.7%

VW/Audi

3.3%

3.7%

3.2%

-0.4%

0.1%

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