Auto

Weakness in Consumer Demand Shows in June Car Sales

As expected, June car sales, being reported by automakers Thursday, are coming in ahead of sales a year-ago June. But that isn't saying much. Last June was dismal as consumers awaited details of the government's Cash for Clunkers program.

And June sales are coming in weaker than May sales, which weren't strong by any stretch.

At midday Thursday without all automakers reporting sales yet, the industry appeared on track to sell less than 1 million vehicles for the month. The Seasonally Adjusted Annualized Rate (SAAR) of sales in the 11 million to 11.2 million range. Of that total, retail sales looked to be in the mid 8 million territory, according to automakers.

The Big 6 automakers so the following June-to-June increases: GM, 11 percent; Ford, 13 percent; Toyota, 7 percent; Honda, 6 percent; Chrysler, 35 percent; and Nissan 11 percent.

 

Discussion

No comments yet.

Post a comment

Spam protection by WP Captcha-Free

Twitter links powered by Tweet This v1.7.3, a WordPress plugin for Twitter.