July Auto Retail Sales Expected to Hit Highest Level Since Before Recession

CHICAGO -- July 29, 2014: Cars.com forecasts July light, new-vehicle sales will hit 1,435,104 units, up 9.4 percent year-over-year and up 1 percent from June. A SAAR of 16.5 million is expected for July, an increase of 4.4 percent from this time last year and down 2.8 percent month-over-month.

Additionally, retail sales are expected to make up 86 percent of total sales this month, up 6.2 percent from July 2013.

"New-vehicle retail sales pace reached its highest level since before the recession in July, fueled mostly by cheap credit and a great selection of vehicles," said Jesse Toprak, chief analyst for Cars.com. "Fiat-Chrysler is projected to post the largest increase in sales amongst the major automakers with a 22 percent improvement over July 2013."

Small SUVs continue to be the fastest-growing segment this year, stealing customers from the small-car and mid-size sedan segments.