PSA Autos: June US Auto Sales Post Moderate Decline, with Incentives at Bay
The US auto market continued to trundle along in June, with total auto sales down 2.2% YoY (excluding Ford’s (F US) results due out on Jul 3. DSR-adjusted (June 2019 had one more selling day than June 2018) sales rose 1.6% YoY. SAAR is estimated to be around 17mil units. Reviewing the first half year, automakers and industry observers concluded that the US auto market was not in that bad a state, considering the headwinds of high interest rates, higher input costs (tariffs on steel and aluminium) plus rising used vehicle supply. Moreover, the industry’s price discipline, where average industry incentives have declined in five out of six months, suggests that buyers are continuing to accept high price levels. Analyst Julie Boote discusses the performance of the Japanese OEMs.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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