Auto Sales Expected to Take the Biggest Hit of the Year in July, Edmunds Forecasts
High inventory levels could bring compelling model-year-end deals as automakers attempt to kick life into sluggish market
SANTA MONICA, Calif., July 27, 2017 /PRNewswire/ -- Edmunds, the leading car shopping and information platform, forecasts that 1,423,097 new cars and trucks will be sold in the U.S. in July for an estimated seasonally adjusted annual rate (SAAR) of 16.9 million. This reflects a 3.1 percent decrease in sales from June 2017 and a 6.2 percent decrease from July 2016.
"July is historically a strong month, but with disappointing sales and inventories still building, something needs to give," said Jessica Caldwell, Edmunds executive director of industry analysis. "A lot is riding on late-summer sales events to help move vehicles before 2018 models start arriving at dealer lots. Production slowdowns will help address some of the inventory issues, but consumers may be waiting for automakers to loosen the purse strings on incentives to get them to pull the trigger on making a purchase."
SALES VOLUME FORECAST, BY MANUFACTURER
| Sales Volume |
July 2017 Forecast |
July 2016 |
June 2017 |
Change from July 2016 |
Change from June 2017 |
| GM |
238,465 |
267,258 |
243,155 |
-10.8% |
-1.9% |
| Toyota |
206,850 |
214,233 |
202,376 |
-3.4% |
2.2% |
| Ford |
204,598 |
215,268 |
227,166 |
-5.0% |
-9.9% |
| Fiat Chrysler |
168,141 |
180,727 |
187,348 |
-7.0% |
-10.3% |
| Honda |
145,840 |
152,799 |
139,793 |
-4.6% |
4.3% |
| Nissan |
131,122 |
132,475 |
143,328 |
-1.0% |
-8.5% |
| Hyundai/Kia |
120,655 |
134,972 |
110,650 |
-10.6% |
9.0% |
| VW/Audi |
44,656 |
47,122 |
46,793 |
-5.2% |
-4.6% |
| Industry |
1,423,097 |
1,517,536 |
1,468,867 |
-6.2% |
-3.1% |
*NOTE: July 2017 had 25 selling days; July 2016 had 26 and June 2017 had 26.
Edmunds estimates that retail SAAR will come in at 14.6 million vehicles in July 2017, with fleet transactions accounting for 13.8 percent of total sales. An estimated 3.4 million used vehicles will be sold in July 2017, for a SAAR of 39.2 million (compared to 3.2 million — or a SAAR of 39.2 million — in June).
MARKET SHARE FORECAST, BY MANUFACTURER
| Market Share |
July 2017 Forecast |
July 2016 |
June 2017 |
Change from July 2016 |
Change from June 2017 |
| GM |
16.8% |
17.6% |
16.6% |
-0.9% |
0.2% |
| Toyota |
14.5% |
14.1% |
13.8% |
0.4% |
0.8% |
| Ford |
14.4% |
14.2% |
15.5% |
0.2% |
-1.1% |
| Fiat Chrysler |
11.8% |
11.9% |
12.8% |
-0.1% |
-0.9% |
| Honda |
10.2% |
10.1% |
9.5% |
0.2% |
0.7% |
| Nissan |
9.2% |
8.7% |
9.8% |
0.5% |
-0.5% |
| Hyundai/Kia |
8.5% |
8.9% |
7.5% |
-0.4% |
0.9% |
| VW/Audi |
3.1% |
3.1% |
3.2% |
0.0% |
0.0% |
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 is the leading car information and shopping platform, helping millions of visitors each month find their perfect car. With products such as Edmunds Your Price, Your Lease and Used+, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at more than 13,000 dealer franchises across the U.S. Edmunds' in-house team of unbiased car-shopping experts provide industry-leading vehicle reviews and shopping tips, as well as welcome all car-shopping questions to the free Shopper Advice line at 1-855-782-4711, via email at [email protected], via text at ED411 and on Twitter and Facebook. The company is regarded as one of America's best workplaces by Fortune and Great Places to Work. Edmunds is based in Santa Monica, California, and has a satellite office in downtown Detroit, Michigan.
Contact:
Monica Favorite
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
[email protected]
SOURCE Edmunds
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