New Vehicle Sales Expected to Slip in July, Edmunds Forecasts
Analysts predict sales to begin slowing down after a strong start to the first half of the year
SANTA MONICA, Calif., July 25, 2018 /PRNewswire/ -- Edmunds forecasts that 1,378,108 new cars and trucks will be sold in the U.S. in July for an estimated seasonally adjusted annual rate (SAAR) of 16.7 million. This reflects a 10.7 percent decrease in sales from June 2018 and a 2.3 percent decrease from July 2017. Edmunds experts note that unseasonably strong June may have played a role in pulling ahead sales.
"July sales are looking reasonably strong, but we're starting to see the first signs of speed bumps on the road ahead," said Jeremy Acevedo, manager of industry analysis at Edmunds. "With market factors such as rising interest rates keeping shoppers at bay, we expect to see a continued slowdown of the vigorous sales pace that the industry experienced in the first half of the year."
Edmunds experts note sales experienced a lift in the first half of the month thanks to Fourth of July sales, but then dropped in the second half of the month.
"Sales likely slowed down due to a dry-up of deals as automakers wrapped up Fourth of July sales," said Acevedo. "As consumer wallets get increasingly squeezed by rising prices through the second half of the year, holiday sales events may play an increasingly significant role in getting shoppers to the dealership."
SALES VOLUME FORECAST, BY MANUFACTURER
| Sales |
July 2018 Forecast |
July 2017 |
June 2018 |
Change from July 2017 |
Change from June 2018 |
| GM |
223,844 |
226,107 |
255,882 |
-1.0% |
-12.5% |
| Toyota |
206,569 |
222,057 |
209,602 |
-7.0% |
-1.4% |
| Ford |
196,274 |
199,318 |
229,537 |
-1.5% |
-14.5% |
| Fiat Chrysler |
165,797 |
161,477 |
202,264 |
2.7% |
-18.0% |
| Honda |
140,770 |
150,980 |
146,563 |
-6.8% |
-4.0% |
| Nissan |
121,878 |
128,295 |
145,096 |
-5.0% |
-16.0% |
| Hyundai/Kia |
108,977 |
110,466 |
120,623 |
-1.3% |
-9.7% |
| VW/Audi |
48,004 |
45,915 |
48,412 |
4.5% |
-0.8% |
| Industry |
1,378,108 |
1,410,601 |
1,542,641 |
-2.3% |
-10.7% |
| *GM sales totals for June 2018 are estimated |
| **NOTE: July 2018 had 24 selling days, July 2017 had 25, and June 2018 had 27. |
Edmunds estimates that retail SAAR will come in at 14.3 million vehicles in July 2018, with fleet transactions accounting for 14.4 percent of total sales. An estimated 3.4 million used vehicles will be sold in July 2018, for a SAAR of 39.5 million (compared to 3.2 million ― or a SAAR of 39.2 million ―in June).
MARKET SHARE FORECAST, BY MANUFACTURER
| Market Share |
July 2018 Forecast |
July 2017 |
June 2018 |
Change from July 2017 |
Change from June 2018 |
| GM |
16.2% |
16.0% |
16.6% |
0.2% |
-0.3% |
| Toyota |
15.0% |
15.7% |
13.6% |
-0.8% |
1.4% |
| Ford |
14.2% |
14.1% |
14.9% |
0.1% |
-0.6% |
| Fiat Chrysler |
12.0% |
11.4% |
13.1% |
0.6% |
-1.1% |
| Honda |
10.2% |
10.7% |
9.5% |
-0.5% |
0.7% |
| Nissan |
8.8% |
9.1% |
9.4% |
-0.3% |
-0.6% |
| Hyundai/Kia |
7.9% |
7.8% |
7.8% |
0.1% |
0.1% |
| VW/Audi |
3.5% |
3.3% |
3.1% |
0.2% |
0.3% |
More insight into recent auto industry trends can be found in the Edmunds Industry Center at http://www.edmunds.com/industry-center/.
About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
CONTACT:
Talia James
Senior Manager, Public Relations
[email protected]
310-309-4900
http://edmunds.com/about/press
SOURCE Edmunds
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article