June caps off the first half of the year, and, according to the latest data, the automotive industry saw quite a first half of the year.
According to a recent report from Edmunds.com, experts at the company anticipate that new car and truck sales will reach 1,365,496 in June, down 5.3 percent from the robust May sales and up 6.3 percent on a year-over-year comparison. The report noted that the number of vehicles sold in June equates to a seasonally adjusted annual rate of 15.5 million units.
"Within the last month we saw a slowing stock market and a stalled unemployment recovery, but the automotive market continues to shine through it all," said Edmunds.com Senior Analyst Jessica Caldwell. "The first half of 2013 was every bit as strong as the auto industry could expect at the beginning of the year, and there's no reason why the next six months can't maintain the same momentum."
The report noted that the top seller in June was General Motors, followed by Ford, Toyota, Chrysler, Honda, Hyundai/Kia, Nissan and VW/Audi. It noted that VW/Audi is likely the only automaker that will see year-over-year sales declines in June.
TrueCar on the same page
A recent report from TrueCar.com also predicts a strong sales month in June. The website anticipates 1,380,543 vehicles were sold in June, up from Edmunds.com's predictions. At that number, the seasonally adjusted annual rate would equal 15.7 million new car sales.
"Despite the lackluster performance in financial markets in June, new vehicle sales reached their highest levels in six years – yet more proof that the recent surge in consumer demand is real and not going anywhere," said Jesse Toprak, senior analyst for TrueCar.com. "The better news for the automakers is that they are back to selling nearly 16 million units a year collectively while spending less on incentives, thanks to the best selection of vehicles ever in their showrooms; product is the king once again."
So is KBB
Kelley Blue Book also expects strong sales more in line with Edmunds.com. A recent KBB report anticipates that 1,363,000 new cars and trucks will have been sold throughout June.
Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book, said that the first half of the year was strong for the auto industry, as new car sales are up nearly 7 percent when compared to the first six months of last year.