While some analysts and forecasters see new car sales in the US rising slightly in June, there are others who predict the slight percentage to actually be on the negative side.
The numbers could turn out negative as the industry could have sold just 1.36 million vehicles as opposed to 1.4 million autos in June 2013 – the predictions put the negative slide of around 3% on the fact that dealerships had fewer opened days than last year.
Executives are now trying to figure out if the sales numbers coming up short are the result of a contraction from the incredible May figures or just a one month stint that was caused by the two missing sales days.
“I think the industry is stable and the fundamentals of credit availability are there, and pent-up-demand is there,” said Reid Bigland, Chrysler’s US sales chief.
“The industry will see lots of year-over-year and month-over-month declines, but that doesn’t mean that June was a bad month for sales,” added Jessica Caldwell, senior analyst for Edmunds.com.
The website predicts sales in June for Chrysler will continue to rise, by 6.3%, but the other two Detroit makers will not be as fortunate, with declines of 8.5% for General Motors and 6.5% at Ford.
by Aurel Niculescu
) - Tuesday, July 1st, 2014 - filed under Industry
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