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A 17.1 million total would match 2019’s total and mark the sixth year in a row that new-vehicle sales would top 17 million.
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Analysts found that, as in 2018, consumers continued to abandon car segments in 2019. Light trucks are on track to account for more than 70% of overall new-car sales for 2019, while cars will account for less than 30% of new-car sales.
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The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
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Trucks have shown the most strength of any segment with full-size trucks up 3%, while Kelley Blue Book shows midsize pickups rose 6%, aided by new and redesigned models.
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New Zealand commercial vehicle sales have declined 3.5% in 2019, year to date, reflecting a decline of 1,429 vehicles this year.
Read More →Incentive spending is projected to reach $4,159 (up 6% or $246), the highest level ever for the third quarter and just $28 short of the all-time quarter high set in Q4 2017.
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The SEC announced the close of an investigation into FCA and its parent company, Fiat Chrysler Automobiles N.V., which were accused of misleading investors about the number of new vehicles sold to U.S. customers each month.
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Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
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Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.
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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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