U.S. auto sales are expected to decline in June with a forecasted 1,080,656 new cars and trucks sold and an estimated seasonally adjusted annual rate (SAAR) of 12.8 million, according to Edmunds.
Those numbers reflect a 28.7% decrease in sales from a year earlier and a 3.6% decrease from May. Sales are down for the second quarter in a row this year with an expected 2,914,860 new cars and trucks sold in Q2 this year — equivalent to an estimated 34.3% decrease from Q2 of 2019.
The numbers come as no surprise and at least auto sales did not come to a complete standstill, said Jessica Caldwell, Edmunds’ executive director of insights.
“The fact that retail sales — not fleet — are what kept the market propped up speaks volumes to the resilience of the American consumer,” said Caldwell. “And the way that dealers were quick to pivot to online sales also underscores the incredibly responsive and resourceful nature of the industry in the face of adversity.”
However Edmunds data also reveals that, even though there has been a steady growth in sales since March, some of the strains of the crisis are starting to present themselves as more shoppers return to the market.
“The marketplace is growing less inviting as automakers pull back on incentives and inventory dwindles due to factory shutdowns, particularly when it comes to trucks, which have been the one bright spot for sales during the pandemic,” said Caldwell.
Still, with the ongoing pandemic and the politically-charged climate in the U.S., Caldwell said the industry needs to prepare for “uncertainties” ahead.
