Kelley Blue Book Raises July Auto Sales Forecast

Kelley Blue Book

While the over­all econ­o­my con­tin­ues to improve at a slow pace, demand for new vehi­cles is rapid­ly approach­ing pre-reces­sion lev­els, accord­ing to Kel­ley Blue Book.

Learn more about the expect­ed indi­ca­tions for July auto sales.

New-car sales are expect­ed to improve 16.1 per­cent in July 2013 to a total of 1.34 mil­lion units, with strength among pick­up trucks, com­pact cars and crossovers, accord­ing to Kel­ley Blue Book www.kbb.com, the lead­ing provider of new and used car infor­ma­tion.

While the over­all econ­o­my con­tin­ues to improve at a slow pace, demand for new vehi­cles is rapid­ly approach­ing pre-reces­sion lev­els. Due to eco­nom­ic improve­ment dur­ing the first half of the year, Kel­ley Blue Book is rais­ing its sales fore­cast from 15.3 mil­lion to 15.6 mil­lion for 2013.

Key High­lights for Esti­mat­ed July 2013 Sales Fore­cast:

  • In July 2013, new light-vehi­cle sales, includ­ing fleet, are expect­ed to be 1,340,000 units, up 16.1 per­cent from July 2012 and down 4.4 per­cent from June 2013.
  • The sea­son­al­ly adjust­ed annu­al rate (SAAR) for July 2013 is esti­mat­ed to be 15.8 mil­lion, up from 14.0 mil­lion in July 2012 and down from 15.9 mil­lion in June 2013.
  • Retail sales are expect­ed to account for 86 per­cent of all sales in July 2013.

“As new-car demand con­tin­ues to improve with leas­es account­ing for near­ly 25 per­cent of all new-car sales, along with con­tin­ued sol­id truck sales, we’ve improved our fore­cast for 2013 to 15.6 mil­lion units,” said Alec Gutier­rez, senior mar­ket ana­lyst at Kel­ley Blue Book. “Con­sumer con­fi­dence has a played a key role in the ongo­ing recov­ery and cur­rent­ly is at the high­est lev­els seen since Jan­u­ary 2008. With mod­est improve­ments in unem­ploy­ment and hous­ing expect­ed to con­tin­ue through the rest of the year, con­fi­dence like­ly will fol­low suit, dri­ving new-car demand along with it.”

 

 

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