Compact automobiles is the one automobile section anticipated to see an increase within the July 2022 new automobile gross sales forecast.
Supply: Cox Automotive
July U.S. auto gross sales are anticipated to indicate little or no change from June’s outcomes as an absence of provide continues to batter the new-vehicle market, in response to the Cox Automotive forecast launched July 27.
The seasonally adjusted price (SAAR) of new-vehicle gross sales in July is predicted to rise barely to 13.2 million, up from final month’s 13 million tempo however fall nicely under final yr’s 14.7 million stage.
The gross sales quantity in July is forecast to complete close to 1.12 million items, down 13% from final yr’s quantity of 1.29 million and decrease by 2% from June. With 26 promoting days in July, the identical as final month and one lower than final yr, the amount decline is principally attributed to the continued lack of accessible product.
“As we transfer into the second half of 2022, there are many headwinds pushing towards a notable restoration in gross sales volumes,” stated Cox Automotive senior economist Charlie Chesbrough in a information launch. “Rising rates of interest and low client sentiment are preserving many potential consumers out of the market. On the identical time, greater costs for each gasoline and autos are making affordability a fair larger problem. Tight provide, nevertheless, continues to be the largest impediment over the close to time period, and there may be little proof of provide returning to regular.”
Most business forecasters, together with Cox Automotive, count on the chip scarcity and different provide chain issues to enhance all through the second half of this yr. Nonetheless, the tempo of that restoration might be assorted and risky. Notes Chesbrough, “Business observers are seemingly going to have to attend till the autumn for any of those points to indicate enchancment.”
July 2022 Gross sales Forecast Highlights
- In July, mild new-vehicle gross sales are anticipated to fall 13.4% from July 2021 and fall 2.1% from final month.
- The SAAR in July 2022 is estimated to be 13.2 million, under final yr’s 14.7 million stage however up from June’s 13 million tempo.
- Just one section – compact automobile – is forecast to see a month-over-month gross sales improve.
- There are 26 promoting days in July 2022, one lower than July 2021 however the identical as June 2022.
Initially posted on Car Remarketing
