US auto market back on track in June image

Following a disappointing May in terms of auto sales in the United State, the industry came back to the growth path last month.

According to monthly sales data compiled by Automotive News, new cars and light trucks volumes increased by 2.4 percent in June in the United States to 1.5 million units. Even if the results were below the analysts’ projections for the month, the outcome is still a positive one, considering the fact that May, when the market fell 6 percent, brought the biggest sales drop in nearly six years. The seasonally adjusted annual sales rate last month came in at 16.68 million, below the 17.01 million rate a year earlier and the 17.46 million in May.

Among the biggest players, Nissan reported the highest monthly jump, with a 13 percent rise to 140,553 units. General Motors continued to struggle, reporting a 1.6 percent slip in June to 255,210, while Ford’s volume increased 6.4 percent to 240,109 vehicles and FCA rose at a similar rate to 197,073 units. Toyota is also under some pressure, after its sales dropped 5.6 percent in June, the fourth monthly decline this year. With the ban over its diesel cars still in force, Volkswagen posted yet another monthly decline, delivering with 22 percent fewer vehicles or 23,809 units.

Despite the mixed sales results in the last couple of months, analysts and automakers still expect the market to hit another sales record at the end of the year. However, 2016 is seen as the peak of the industry, as the trend is likely to go downwards for the coming years.

Via Automotive News