U.S. new light-vehicle sales are expected to jump 18 percent in June from a year earlier – the highest point since 2007, according to a new survey.
The numbers in part reflect recovery for Toyota and Honda following problems last year resulting from the earthquake and tsunami in Japan and later flooding in Thailand. Although raw sales numbers are well above figures from last year, Toyota and Honda have been able to gain market share on the strength of their latest redesigns.
“Toyota will post strong retail sales this month while decreasing incentive spending as consumers continue to snap up the popular Camry, Corolla and Prius,” said senior analyst Kristen Andersson.
According to TrueCar, new car sales this month will hit 1.2 million units – down 6.9 percent from May. TrueCar expects all of the major players to show declines from May’s totals. The forecast translates into a seasonally adjusted annualized rate of 13.6 million new car sales for June, up from 11.5 million a year earlier and down from 13.8 million in the prior month.
However, Ford Motor expects new car and truck sales in the US in June to be the same as in May.
Ford North American President Mark Fields said that since the economy remains mixed, the company expects new car and truck sales to range somewhere around 13 million units.
On the same time, retail sales are expected to be up 15.7 percent year-over-year from June 2011 and down 6.9 percent month-over-month from May 2012.