Following a slight dip in May, industry experts are calling for improved new car sales in June. May car sales slid by 4 percent, but June’s figures could increase by as much as 14 percent.
Projections vary a bit, but industry analysts are calling for a May sales bump somewhere between 8-14 percent. That would put June’s seasonally adjusted annual sales rate in the 12 million unit range. May posted a SAAR of 11.78 million units.
May’s sales were slightly depressed due to higher gas prices and crimped inventories, both those burdens have eased during June. June’s stronger sales are so far being fueled by trucks and small cars.
“There has been some easing of negative variables in June, as the inventory shortage has not been as severe as expected, and gas prices have dropped noticeably from higher levels in April and May,” Jeff Schuster, executive director of global forecasting at J.D. Power and Associates, said in a statement.
Retails sales are expected to come in at 884,800 units, representing a SAAR of 9.9 million units. That figure outpaces May’s 9.3 million unit clip.
Official sales figures will be announced on July 1.
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