After a controversial May for U.S. auto sales, comes June that seems to be more resultative and that is expected to rise the number of new vehicles sold about 5 percent from a year ago. Analysts say that July should also get off to a good start as Independence Day weekend typically sees aggressive sales promotions.
This year June has one more selling day than it did in 2015. The forecasts represent the highest volume for June since 2005 and a seasonally adjusted, annualized selling rate of 16.9 million to 17.2 million. We will have real sales results for June on Friday when automakers are to release their sales figures.
American Honda, Nissan North America, Fiat Chrysler Automobiles and Hyundai-Kia all are expected to gain market share. Forecasts also show General Motors, Toyota Motor Sales U.S.A. and Volkswagen Group of America losing share, while predictions for Ford Motor Co. are mixed. All this being taken into consideration, at the halfway point of 2016, it’s still on pace to set another annual sales record.
