TrueCar.com: Retail sales down, used sales up
July 28, 2011 — TrueCar.com release_notesd its July 2011 sales and incentives forecast, indicating retail sales are down 2.4 percent compared to July of 2010 and down 0.4 percent from June of 2011.
Used car sales are estimated to be 4,052,086, up 2.3 percent from July 2010, but down 1.8 percent from June 2011. The ratio of new to used is estimated to be 1:4 for July 2011.
Also for this month, new light vehicle sales in the U.S. (including fleet) are expected to reach 1,041,435 units, down 0.8 percent from June 2010 and down 0.9 percent from June 2011.
The industry average incentive spending per unit will be approximately $2,418 in July 2011, which represents an increase of 0.7 percent from June 2011 and down 15.1 percent from July 2010.
Jesse Tropak, vice-president of Trends and Insights for TrueCar.com said in a press release that economic uncertainty and the debt ceiling crisis could have an impact on sales for the rest of the year.
“With auto sales already not running at a strong rate this summer, it could be a tough second half of the year for the auto industry,” Tropak said.