News

June Car Sales Slip

New-vehicle sales are expected to fall nearly 4 percent year-over-year to a total of 1.46 million units in June 2017, resulting in an estimated 16.3 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book.

“Kelley Blue Book projects June will be yet another down month of sales with expected declines in both fleet and retail,” said Tim Fleming, analyst for Kelley Blue Book. “With manufacturers continuing to announce production cuts at their plants following weaker consumer demand, it all but solidifies 2017 as a down year. Additionally, we are also seeing lease penetration rates come down from record highs and starting to see a slowdown in the growth of incentives as a result. Both are good signs for the long-term health of the automotive industry and show manufacturers’ commitment to profitability and preserving future used-car values.”

June 2017 would represent the fourth month in a row under 17 million SAAR, the longest period since a six-month streak from September 2014 through February 2015. After a record year of sales in 2016 and seven consecutive year-over-year sales increases, Kelley Blue Book’s forecast for 2017 calls for sales in the range of 16.8 million to 17.3 million units, which represents a 1- to 4-percent decrease from last year.

Related Articles

Back to top button