New-Car Sales to Jump 11.6 Percent Year-Over-Year in July

New-vehicle sales are expected to increase 11.6 percent year-over-year to a total of 1.46 million units, resulting in an estimated 16.6 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book.

“Following last month’s record SAAR since July 2006, sales should slow slightly, but remain strong overall in July,” said Alec Gutierrez, senior analyst for Kelley Blue Book.

“Sales in the first half of the year totaled 8.15 million, an increase of 4.2 percent from last year,” he continued. In the second quarter, sales hit 4.41 million, which is the second-best quarter since 2006.

Noted Kelley Blue Book, new-car sales increases are expected to continue into the second half of the year, for a full year total of 16.3 million, which would be a 4.9 percent improvement from 2013.

Key Highlights for Estimated July 2014 Sales Forecast:

• In July, new light-vehicle sales, including fleet, are expected to hit 1,465,000 units, up 11.6 percent from July 2013 and up 3.3 percent from June 2014.
• The seasonally adjusted annual rate (SAAR) for July 2014 is estimated to be 16.6 million, up from 15.7 million in July 2013 and down from 16.9 million in June 2014.
• Retail sales are expected to account for 88 percent of volume in July 2014.

Tags: New car sales

Category: Featured, General Update, Vehicles