U.S. light-vehicle sales in June 2015 are forecast at 1,479,200, flat on a selling-day adjusted basis compared with June 2014. Fleet volume is expected at 309,600 units, but share falls in the month to 21% of total sales, from 22% a year ago.
The real party is being hosted by new-vehicle retail sales in June 2015 along with a corresponding SAAR, a retail seasonally adjusted annualized selling rate, that are expected to reach their highest levels for June since 2005, according to a monthly sales forecast from J.D. Power and LMC Automotive.
“The industry continues to outperform prior-year levels with respect to retail sales and transaction prices,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power. “June is on pace to complete the strongest first half of the year since 2002.” Retail sales through the first half of 2015 are projected to reach 6,771,000.
The average new retail transaction price so far in June is $30,452, on track for a new record for the month, according to the Power Information Network (PIN). The previous record was set in June 2014 when retail transaction prices averaged $29,813.
The combination of strong sales and high transaction prices has June on record pace for consumer spending on new vehicles for the month at ~$35.6 billion, $2.5 billion more than June 2014. In the first half of 2015, consumers will have spent $206.2 billion on new vehicles, $11.6 billion more than the previous record set in 2014 when spending reached $194.7 billion.