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New Vehicle Sales Expected to Slip in July, Edmunds Forecasts

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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

PR Newswire

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.

Car-buying platform Edmunds.com serves nearly 20 million visitors each month. With Edmunds.com Price Promise(R), shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at over 10,000 dealer franchises across the U.S.

"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
Volume

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
PR@Edmunds.com
310-309-4900
http://edmunds.com/about/press

 

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SOURCE Edmunds

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