US: June auto sales point out to surging demand during second half of the year image

The top global manufacturers had mostly improving US auto sales last month, allowing the industry to finish the best first half year in a decade and forecast an even higher finish during the latter part of the year.

The growth will be supported by several automakers delivering numerous new or refreshed models during the second half of the year – GM has five new passenger cars on the roster, including the all-new Malibu and Camaro. Meanwhile Ford is finally ramping up to full production level for its top-selling aluminum-bodied F-150 pickup truck, the best-selling vehicle line in America. Meanwhile prices are also surging alongside deliveries as cheap gasoline and low interest rates fuel booming demand for sport utility vehicles and pickup trucks, with the average vehicle price in June hitting $33,340, up 2.5 percent from a year ago, according to automotive researcher Kelley Blue Book. “Auto sales continue to push higher and are slated to have one of the strongest years ever,” commented Mark Williams, an analyst at KBB.

Across the industry, overall sales in June surged 3.9 percent from the same period last year, to a total of 1.48 million units, the best tally for the month since 2006, said researcher Autodata Corp. the seasonally adjusted annualized selling rate reached 17.2 million cars and light trucks, Autadata added – which would fall in line with analyst predictions and a level that would put 2015 the best year in a decade. Rising consumer confidence and a host of new products is predicted to push the tally even higher during the coming six months.

Via Bloomberg