July Auto Retail Sales Expected to Hit Highest Level Since Before Recession
CHICAGO, July 29, 2014 /PRNewswire/ -- Cars.com forecasts July light, new-vehicle sales will hit 1,435,104 units, up 9.4 percent year-over-year and up 1 percent from June. A SAAR of 16.5 million is expected for July, an increase of 4.4 percent from this time last year and down 2.8 percent month-over-month.
Additionally, retail sales are expected to make up 86 percent of total sales this month, up 6.2 percent from July 2013.
"New-vehicle retail sales pace reached its highest level since before the recession in July, fueled mostly by cheap credit and a great selection of vehicles," said Jesse Toprak, chief analyst for Cars.com, a leading car shopping site and automotive digital marketing company. "Fiat-Chrysler is projected to post the largest increase in sales amongst the major automakers with a 22 percent improvement over July 2013."
Small SUVs continue to be the fastest-growing segment this year, stealing customers from the small-car and mid-size sedan segments.
| Unit Sales |
|||
| Manufacturer |
July 2014 Sales Forecast |
YoY |
MoM |
| Fiat Chrysler |
169,874 |
22.1% |
-0.7% |
| Ford |
213,418 |
10.5% |
-3.6% |
| GM |
256,712 |
9.7% |
-4.0% |
| Honda |
147,124 |
4.0% |
14.0% |
| Hyundai/Kia |
122,195 |
6.2% |
3.5% |
| Nissan |
117,841 |
8.1% |
7.5% |
| Toyota |
209,687 |
8.4% |
4.0% |
| Volkswagen Group |
48,750 |
-7.4% |
-2.1% |
| Total |
1,435,104 |
9.4% |
1.0% |
| Market Share |
|||
| Manufacturer |
July 2014 Sales Forecast |
Jun-14 |
Jul-13 |
| Fiat Chrysler |
11.8% |
12.0% |
10.6% |
| Ford |
14.9% |
15.6% |
14.7% |
| GM |
17.9% |
18.8% |
17.8% |
| Honda |
10.3% |
9.1% |
10.8% |
| Hyundai/Kia |
8.5% |
8.3% |
8.8% |
| Nissan |
8.2% |
7.7% |
8.3% |
| Toyota |
14.6% |
14.2% |
14.7% |
| Volkswagen Group |
3.4% |
3.5% |
4.0% |
ABOUT CARS.COM
Cars.com is an award-winning online destination for car shoppers that offers information from consumers and experts to help buyers formulate opinions on what to buy, where to buy and how much to pay for a car. Cars.com offers thousands of new and used vehicle listings, consumer reviews, side-by-side comparison tools, photo galleries, videos, unbiased editorial content and many other tools to take the drama out of car shopping. Cars.com puts millions of car buyers in control of their shopping process with the information they need to make confident buying decisions. Launched in June 1998, Cars.com is a division of Classified Ventures LLC.
SOURCE Cars.com
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