US Auto Sales June - Moderate Sales Increase; SAAR Drops below 17mil units
US auto sales increased 2.5%YoY to 1.51mil vehicles in June; a disappointingly modest rise, considering that June 2016 had one selling day more than June 2015 and that May sales had already been very weak. For the second time this year, SAAR dropped below 17mil, reaching only 16.66mil units in June. Automakers see no reason to panic, though, since general market conditions are still positive, with low interest rates, a recovering labour market and low fuel prices. Also, demand for light trucks remains strong (+11.4% YoY in June) and transaction prices continue to rise, indicating that the performance in value term is better than the development of volumes. However, the market expansion is markedly losing steam and there is a risk of seeing the year ending in negative growth, as the year-to-date sales rise has only been 1.5% YoY.
*Included in this report we comment on the performance of the Japanese automakers. We also provides a table showing the performance of all makers and the SAAR chart (Dec 10 – Jun 16) .
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.
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