July new-car sales to decrease nearly 6 percent year-over-yearStaff Writer | July 27, 2017
New-vehicle sales are expected to fall nearly 6 percent year-over-year to a total of 1.43 million units in June 2017.
Auto industry Kelley Blue Book
July 2017 would represent the fifth month in a row under 17 million SAAR, the longest period since a six-month streak from September 2014 through February 2015.
After a record year of sales in 2016 and seven consecutive year-over-year sales increases, Kelley Blue Book's forecast for 2017 calls for sales in the range of 16.8 million to 17.3 million units, which represents a 1 to 4 percent decrease from last year.
General Motors could see the most significant drop in market share in July 2017, as the company focuses on lowering production to combat rising levels of inventory.
While incentive spending will likely remain elevated for GM brands, the production cuts should help to curb the increased incentives needed to move the slower-selling models that have grown in supply.
Subaru is expected to buck the trend as the only major automaker expected to post a rise in overall sales volume in July.
Due to one less selling day this year versus July 2016, Kelley Blue Book projects most automakers will likely see overall volume decline.
Subaru, however, will likely enjoy a modest gain in market share due to the popularity of fast-selling models, such as the Crosstrek, Outback and Impreza. ■