Thursday, July 27, 2017

Vehicle Sales Forecast: Fifth consecutive month below 17 million SAAR

by Bill McBride on 7/27/2017 01:45:00 PM

The automakers will report July vehicle sales on Tuesday, August 1st.

Note: There were 26 selling days in July 2017, the same as in July 2016.

From WardsAuto: Forecast: July U.S. LV Sales Fall Behind Year-Ago

A WardsAuto forecast calls for U.S. light-vehicle sales to reach a 16.9 million-unit seasonally adjusted annual rate in July, following June’s 16.4 million SAAR and resulting in a 5-month streak of sub-17 million figures. July’s SAAR would be significantly lower than the 17.8 million recorded in same-month 2016.
...
The industry continues to deal with declining sales and rising inventory ... U.S. dealers entered July with ... 73 days’ supply, while a total in the low 60s is considered healthy for this time of year.
emphasis added
Overall sales are down about 3% from the record level in 2016.