TrueCar.com Forecasts Highest June Car Sales Since 2007

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

   

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.

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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/.

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