July Sales Expected to Get the Second Half of 2016 off to a Fast Start, Forecasts Edmunds.com
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SANTA MONICA, Calif., July 27, 2016 -- Edmunds.com, the leading car information and shopping network, forecasts that 1,519,576 new cars and trucks will be sold in the U.S. in July for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.8 million. This reflects a 0.7 percent increase from June 2016, and a 0.8 percent increase from July 2015. The forecast anticipates that it will be the best for the month of July since 1.8 million sales were registered in July 2005.
Edmunds.com projects that 10,159,636 new cars and trucks will be sold this year in the U.S. through the end of July, up 1.3 percent from the 10,028,814 sales recorded through the first seven months of 2015's record-breaking year.
"Last year's record-setting sales performance was powered primarily by a strong second half, and July sales suggest that 2016 is poised to play out in the same way," says Edmunds.com Executive Director of Industry Analysis Jessica Caldwell. "With low interest rates and a leasing market that's stronger than ever, automakers have a great opportunity to build on last year's burst of summer sales. The growth might not be as significant as in recent years, but it's still growth nonetheless."
SALES VOLUME FORECAST, BY MANUFACTURER
|
Sales Volume |
July 2016 Forecast |
July 2015 |
June 2016 |
Change from July |
Change from June 2016 |
|
GM |
277,636 |
272,512 |
255,210 |
1.9% |
8.8% |
|
Ford |
218,276 |
222,014 |
239,096 |
-1.7% |
-8.7% |
|
Toyota |
212,581 |
217,181 |
198,257 |
-2.1% |
7.2% |
|
Fiat Chrysler |
184,447 |
178,027 |
197,073 |
3.6% |
-6.4% |
|
Honda |
147,080 |
146,324 |
138,715 |
0.5% |
6.0% |
|
Nissan |
136,614 |
130,872 |
140,553 |
4.4% |
-2.8% |
|
Hyundai/Kia |
132,091 |
127,324 |
130,083 |
3.7% |
1.5% |
|
VW/Audi |
41,895 |
48,954 |
42,254 |
-14.4% |
-0.8% |
|
Industry |
1,519,576 |
1,507,663 |
1,509,177 |
0.8% |
0.7% |
|
*NOTE: July 2016 had 26 selling days, July 2015 had 26 and June 2016 had 26. |
Edmunds.com estimates that retail SAAR will come in at 15.3 million vehicles in July 2016, with fleet transactions accounting for 14.1 percent of total sales. An estimated 3.4 million used cars will be sold in July 2016, for a SAAR of 38.7 million (compared to 3.2 million – or a SAAR of 38.7 million – used car sales in June 2016).
MARKET SHARE FORECAST, BY MANUFACTURER
|
Market Share |
July 2016 Forecast |
July 2015 |
June 2016 |
Change from July |
Change from June 2016 |
|
GM |
18.3% |
18.1% |
16.9% |
0.2% |
1.4% |
|
Ford |
14.4% |
14.7% |
15.8% |
-0.4% |
-1.5% |
|
Toyota |
14.0% |
14.4% |
13.1% |
-0.4% |
0.9% |
|
Fiat Chrysler |
12.1% |
11.8% |
13.1% |
0.3% |
-0.9% |
|
Honda |
9.7% |
9.7% |
9.2% |
0.0% |
0.5% |
|
Nissan |
9.0% |
8.7% |
9.3% |
0.3% |
-0.3% |
|
Hyundai/Kia |
8.7% |
8.4% |
8.6% |
0.2% |
0.1% |
|
VW/Audi |
2.8% |
3.2% |
2.8% |
-0.5% |
0.0% |
More insight into recent auto industry trends can be found in Edmunds.com's Industry Center at http://www.edmunds.com/industry-center/.