New Vehicle Sales Expected to Slip in July

July 26, 2018

Edmunds forecasted that 1,378,108 new cars and trucks will be sold in the U.S. in July for an estimated seasonally adjusted annual rate of $16.7 million. This reflects a 10.7 percent decrease in sales from June 2018 and a 2.3 percent decrease from July 2017.

July 26, 2018—Edmunds forecasted that 1,378,108 new cars and trucks will be sold in the U.S. in July for an estimated seasonally adjusted annual rate (SAAR) of $16.7 million. This reflects a 10.7 percent decrease in sales from June 2018 and a 2.3 percent decrease from July 2017.

Edmunds experts note that unseasonably strong June may have played a role in pulling ahead sales.

"July sales are looking reasonably strong, but we're starting to see the first signs of speed bumps on the road ahead," said Jeremy Acevedo, manager of industry analysis at Edmunds. "With market factors such as rising interest rates keeping shoppers at bay, we expect to see a continued slowdown of the vigorous sales pace that the industry experienced in the first half of the year."

Edmunds experts note sales experienced a lift in the first half of the month thanks to Fourth of July sales, but then dropped in the second half of the month.

"Sales likely slowed down due to a dry-up of deals as automakers wrapped up Fourth of July sales," said Acevedo. "As consumer wallets get increasingly squeezed by rising prices through the second half of the year, holiday sales events may play an increasingly significant role in getting shoppers to the dealership."

Edmunds estimates that retail SAAR will come in at 14.3 million vehicles in July 2018, with fleet transactions accounting for 14.4 percent of total sales. An estimated 3.4 million used vehicles will be sold in July 2018, for a SAAR of 39.5 million (compared to 3.2 million―or a SAAR of 39.2 million ―in June).

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.

Boosting Your Shop's Bottom Line with an Extended Height Paint Booths

Discover how the investment in an extended-height paint booth is a game-changer for most collision shops with this Free Guide.