Edmunds.com Says Auto Sales to Reach Highest July Mark in Eight Years
Jul 24, 2014, 14:05 ET from Edmunds.com
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SANTA MONICA, Calif., July 24, 2014 /PRNewswire/ -- Edmunds.com, the premier destination for car shopping, forecasts that 1,461,290 new cars and trucks will be sold in the U.S. in July, for an estimated Seasonally Adjusted Annual Rate (SAAR) of 16.8 million. This would be the highest July sales since the auto industry delivered 1.49 million new car sales in July 2006.
"July's performance is the clearest indication yet that retail buyers are driving market demand," says Edmunds.com Senior Analyst Jessica Caldwell. "Shoppers are looking past news of recalls and rising gas prices and they're finding affordable interest rates and other incentives that make it easier to buy a new car."
|
SALES VOLUME FORECAST, BY MANUFACTURER
| |||||
|
Sales Volume |
Jul-14 Forecast |
Jul-13 |
Jun-14 |
Change from Jul 2013* |
Change from Jun 2014* |
|
GM |
258,966 |
234,071 |
267,461 |
10.6% |
-3.2% |
|
Toyota |
217,314 |
193,394 |
201,714 |
12.4% |
7.7% |
|
Ford |
212,714 |
193,080 |
221,396 |
10.2% |
-3.9% |
|
Chrysler Group |
170,659 |
140,102 |
171,086 |
21.8% |
-0.2% |
|
Honda |
144,701 |
141,439 |
129,023 |
2.3% |
12.2% |
|
Hyundai/Kia |
126,937 |
115,009 |
118,051 |
10.4% |
7.5% |
|
Nissan |
123,653 |
109,041 |
109,643 |
13.4% |
12.8% |
|
VW/Audi |
48,379 |
48,843 |
45,694 |
-0.9% |
5.9% |
|
Industry |
1,461,290 |
1,314,891 |
1,419,090 |
11.1% |
3.0% |
|
*NOTE: July 2014 had 26 selling days, July 2013 had 25 and June 2014 had 24. | |||||
Edmunds.com estimates that retail SAAR will come in at 14.5 million vehicles in July, with fleet transactions accounting for 13.8 percent of total sales. An estimated 3.22 million used cars will be sold in July, for a SAAR of 36.2 million (compared to 2.94 million – or a SAAR of 36.7 million – used car sales in June).
AUTOMAKER PERFORMANCE
Edmunds.com projects that Toyota will post the most notable sales performance in July. The forecast anticipates that the Japanese automaker will see sales grow 12.4 percent year over year and 7.7 percent month over month. As a result, Toyota is poised to surpass Ford as the second best-selling manufacturer for the first month since August 2013.
|
MARKET SHARE FORECAST, BY MANUFACTURER
| |||||
|
Market Share |
Jul-14 Forecast |
Jul-13 |
Jun-14 |
Change from
July 2013 (Percentage pts.) |
Change from June 2014
(Percentage pts.) |
|
GM |
17.7% |
17.8% |
18.8% |
-0.1% |
-1.1% |
|
Toyota |
14.9% |
14.7% |
14.2% |
0.2% |
0.7% |
|
Ford |
14.6% |
14.7% |
15.6% |
-0.1% |
-1.0% |
|
Chrysler Group |
11.7% |
10.7% |
12.1% |
1.0% |
-0.4% |
|
Honda |
9.9% |
10.8% |
9.1% |
-0.9% |
0.8% |
|
Hyundai/Kia |
8.7% |
8.7% |
8.3% |
-0.1% |
0.4% |
|
Nissan |
8.5% |
8.3% |
7.7% |
0.2% |
0.7% |
|
VW/Audi |
3.3% |
3.7% |
3.2% |
-0.4% |
0.1% |
Shoppers in the market right now for a new car are encouraged to check out Edmunds.com's Deals of the Month page where they can find some of the strongest available deals, including 0% financing for up to 60 months on a 2014 Nissan Pathfinder SV Hybrid or $3,000 cash on a 2014 Cadillac CTS Coupe.
About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with nearly 10,000 dealer franchises across the U.S. Shoppers can browse our inventory listings for available cars and trucks, and with Edmunds.com's Price PromiseSM, they can get an instant, upfront price on those same vehicles. Recently named the "Highest Ranked Third-Party Automotive Web Site" according to J.D. Power's 2014 Third-Party Automotive Website Evaluation StudySM, Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Use our acclaimed Edmunds.com iPhone and iPad apps or Edmunds.com Android App, or contact our free Live Help line at 1-855-782-4711 or text our experts at ED411. Edmunds.com also founded Car Week, a special shopping event that connects more car shoppers with dealers. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook.
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SOURCE Edmunds.com
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