U.S. Auto Market Reaps Double-Digit Gain in June; Best Monthly Pace Since 2007

Car buyer gets keys from DealerAutomakers in the U.S. market finished the month of June with new-vehicle total sales increasing 13.5% (on a selling-day adjusted basis*) to 1.40 million units from 1.28 million units in the same month in 2012, according to analysis from J.D. Power’s Power Information Network® (PIN) and our strategic partner LMC Automotive. The selling pace in June was the strongest in six years and outperformed most forecasts.

Through the first six months of 2013, total new-vehicle deliveries also increased, but not by as much as the June figure; YTD sales were up 8.4%, to 7.82 million unit sales from 7.26 million in the same six-month period a year ago. Trucks outperformed cars in the first half and gained 1.80 percentage points of share from a year ago. The Detroit-based automakers also captured a larger share of the U.S. auto market in the first half—46.1% vs. 45.2% in 2012.

In June, the seasonally adjusted annual selling rate (SAAR) for retail and fleet sales averaged 15.9 million units—the strongest rate since 2007. The year-ago total light-vehicle SAAR was a much weaker 14.4 million units. Continue reading ›

July Marks Fifth Month of 14.0-Million-Plus Sales Pace

July was the fifth of seven months this year that ended with an average annual selling pace, or SAAR, above 14.0 million units, according to analysis of Power Information Network® (PIN) retail transaction data by J.D. Power with LMC Automotive.* Two fewer selling days in July this year (24) vs. last year’s same month (26) meant that automakers sold 18% more new cars and light trucks in the U.S. market, which translated to a SAAR of 14.1 million units. Sales continue to be strong through the first seven months of 2012, and total light-vehicle sales are up 14% from a year ago. A few more highlights are summarized from a final July sales update by PIN and LMC Automotive:

• In July, retail deliveries totaled nearly 970,000 units, which was up 17.8% from a year ago and up 6.8% from June’s retail sales, when selling-day adjusted. This translated to a retail SAAR of 11.5M units, down nearly 500,000 units from last month, but up a significant 2.0 million units from a year ago.

• Fleet sales climbed 19.4% from year-ago totals, but declined 21.7% from June on a selling-day-adjusted basis. July is traditionally a weak fleet sales month, and this month’s performance resulted in the lowest mix of fleet sales this year, according to Dave Cutting, senior manager of North American forecasting at LMC Automotive. The fleet SAAR averaged 2.5 million units. Continue reading ›