TrueCar.com Forecasts Highest June Car Sales Since 2007

The company also says used-car sales will rise compared to May

   

TrueCar.com Forecasts Highest June Car Sales Since 2007

Auto industry research firm TrueCar.com says this month will see the best June car sales since 2007. The company forecasts light-vehicle sales of 1,242,301 units for the month, an increase of 18.1% over the same time last year, but down 6.9% from May.

Sales of fleets and rental cars will account for 20.5% of total June sales.

cars TrueCar.com Forecasts Highest June Car Sales Since 2007
Toyota Prius Now World’s Third Best-Selling Car

Automakers will commit an average of $2,432 in sales incentives per vehicle in June, up 1.5% from last year, but down 4.8% from May. Dealers will sell 4,774,707 used vehicles in June, an increase of 6.3% over last year. That’s also up 10.8% from May. TrueCar.com notes that the sales ratio of new cars to used cars will be 1:4 for the month.

The company predicts the annualized sales rate for June will hit 13.6 million new vehicles. That’s a strong increase over the annualized sale pace of 11.5 million vehicles recorded last year, but lower than May’s rate of 13.8 million.

The firm says General Motors (NYSE:GM), Chrysler, Nissan (PINK:NSANY), Honda (NYSE:HMC), Toyota (NYSE:TM) and Volkswagen (PINK:VLKAY) will sell fewer cars in June than in May, but all will record substantially stronger sales compared to June 2011. Ford (NYSE:F) and Hyundia (PINK:HYMLF) will see sales only slightly higher than last year.

For more details on TrueCar.com’s forecast for June, please click here.


Article printed from InvestorPlace Media, http://investorplace.com/2012/06/truecar-com-forecasts-highest-june-car-sales-since-2007/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.