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US auto sales in June beat all expectations

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US auto sales in June beat all expectations

While some predicted a slight rise in last month’s sales, many more analysts saw a decline after the almost incredible performance the industry had in May.

Well, it certainly looks like the US automotive industry and the buyers are looking forward to the next best record – maybe tired of seeing 2014 called the year of the recall. Judging by the performances from the past few months, they would like this year to be called the year that swiped away the latest economic crisis.

Researcher and industry consultant Autodata Corporation compiled the United States new car deliveries and provided the figures – the sales rate, seasonally adjusted for the trend (SAAR) – has grown straight to 16.98 million, which is the biggest increase rate in about eight year, besting the performance last set by July 2006.

“It was a really solid run rate the past two months for the industry,” said John Felice, a Ford executive. “We expect that to continue, especially into the first part of July with the promotional push by the industry” for the JUly 4th national holiday.

US sales of light vehicles grew in June by 1.2 % (so, among the analysts, some did get the trend right) to 1.42 million units. The final tally of deliveries bested both averages compiled from analysts by Reuters and Bloomberg, the first expecting a 3% decline and the second polling observers for an average seasonally adjusted rate of 16.3 million cars and a total of 1.37 million units sold last month.

Via Bloomberg, Reuters

by Aurel Niculescu (my Google+) - Wednesday, July 2nd, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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