SANTA MONICA, Calif. — Edmunds.com said today it expects the industry to post the best June sales since June 2005, when 1.67 million vehicles were registered. The vehicle information site’s forecast has the industry selling 1.53 million new vehicles for an estimated seasonally adjusted annual rate (SAAR) of 16.9 million.
The prediction, if realized, reflects a 0.2% decrease from May but a 3.8% increase from last June. On a year-to-day basis through, the firm expects sales to total 8.66 million vehicles, a 1.6% increase from the year-ago period if the prediction is realized.
“The industry may not be growing as fast as in recent year, but, at the halfway point of 2016, it’s still on pace to set another annual sales records,” said Jessica Caldwell, Edmunds’ director of industry analysis. “As long as economic conditions — like low unemployment and ease access to credit — continue, the industry will be in a strong position through the busy summer sales months.”
The retail SAAR should come in at 13.6 million units in June, according to the firm, with fleet transactions accounting for 20.1% of total sales. Edmunds.com also expects that 3.1 million used cars will be sold this month for a SAAR of 38 million.
Originally posted on F&I and Showroom