US New Vehicle Sales Are Expected To Keep Rebounding In July Despite Virus Resurgence

Via Christophe-Barraud.com,

Analysts expect U.S. new vehicle sales to keep rebounding in July after increasing by 42.3% MoM in May and 6.9% in June according to Wards data.

However, June’s level remained quite low at 13.05m (SAAR), far below February’s level of 16.83m, which offers room for another rise in July:

1- According to Cox Automotive, “ the seasonally adjusted annual rate (SAAR) of auto sales in July is expected to be 13.3 million, up from last month’s 13.0 million pace, but down from last year’s 16.9 million level..”

July 2020 should see modest month-over-month improvements in auto sales. But increasing COVID-19 cases and economic uncertainty loom larger than ever. Our July Sales Forecast: https://t.co/Gf7FoW2DGQ #autoretail #automotivenews #automotiveindustry #autosales

— Cox Automotive (@CoxAutomotive) July 29, 2020

2- ALG, Inc., a subsidiary of TrueCar, Inc. projects “total new vehicle sales will reach 1,098,960 units in June 2020, down 24% from a year ago when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 14 million units.”

3- Industry consultants J.D. Power and LMC Automotive said “The seasonally adjusted annualized rate (SAAR) for total sales is expected to be 14.3 million units, down 2.5 million units from a year ago..”

4- Finally, Wards Intelligences noted “Sales have continually surprised on the upside”. More precisely, they expect sales to reach 14.1 million SAAR.