FAST FIVE: US New Vehicle Sales Are Expected To Keep Rebounding In July Despite Virus Resurgence

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US New Vehicle Sales Are Expected To Keep Rebounding In July Despite Virus Resurgence Tyler Durden Mon, 08/03/2020 – 09:05 Via Christophe-Barraud.com, Analysts expect US new vehicle sales to keep rebounding in July after increasing by 42.3% MoM in May and 6.9% in June according to Wards data.

However, June's level remained quite low at 13.05m (SAAR), far below February's level of 16.83m, which offers room for another rise in July: 1- According to Cox Automotive, ” the seasonally adjusted annual rate (SAAR) of auto sales in July is expected to be 13.3 million, up from last month's 13.0 million pace, but down from last year's 16.9 million level..” July 2020 should see modest month-over-month improvements in auto sales.

But increasing COVID-19 cases and economic uncertainty loom larger than ever.

projects “total new vehicle sales will reach 1,098,960 units in June 2020, down 24% from a year ago when adjusted for the same number of selling days.

More precisely, they expect sales to reach 14.1 million SAAR.

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