Analysts expect new vehicle sales to keep rebounding in June after increasing by 42.3% MoM in May. However, May’s level remained quite low at 12.21m (SAAR), far below February’s level of 16.83m, which offers room for another rise in June:
1- According to Edmunds, “Analysts forecast a healthier-than-expected SAAR of 12.8 million in June as the country expands reopening and more consumers resume car purchases, but warn that new market factors could create trouble ahead.”
2- According to Cox Automotive, “the seasonally adjusted annual rate (SAAR) of auto sales in June will finish at 12.6 million, down significantly from last year’s 17.2 million pace, but up from May’s 12.2 million level.”
Auto sales are reported next week. Here’s our forecast: https://t.co/fa07E0Gelp
— Cox Automotive (@CoxAutomotive) June 26, 2020
First-half auto sales will be confirmed by most automakers on Wednesday. The results, we know, have been helped by generous incentive spending. https://t.co/MxpOSx3LXb
— Cox Automotive (@CoxAutomotive) June 29, 2020
3- Wards Intelligence expects “June’s seasonally adjusted annual rate to total 12.9 million units. That compares with May’s 12.2 million and April’s awful 8.7 million.”
June Auto Sales Improve, But Just a Bithttps://t.co/2LKsHzOMon@CoxAutomotive pic.twitter.com/eyeUHU7TvO
— WardsAuto (@WardsAuto) June 29, 2020
4- ALG, Inc., a subsidiary of TrueCar, Inc. projects “total new vehicle sales will reach 1,098,960 units in June 2020, down 24% from a year ago when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 13 million units.”
“Automotive retail continues to show positive momentum, rebounding from April lows and performing better than initially expected as states continue to ease restrictions,” said @EricLymanALG, Chief Industry Analyst. See the latest sales forecast for June: https://t.co/Y53G85R8Ll
— TrueCar (@TrueCar) June 26, 2020
5- Industry consultants J.D. Power and LMC Automotive said “The seasonally adjusted annualized rate (SAAR) for total sales is expected to be 12.8 million units, down 4.4 million units from a year ago.”
