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U.S. auto sales expected to dip in June: forecasts

NEW YORK
2019-06-30 05:02

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NEW YORK, June 29 (Xinhua) -- U.S. auto sales are estimated to fall in June, closing out a relative downbeat first half of the year, said several reports released earlier this week.

Atlanta-based Cox Automotive said it anticipates June U.S. auto sales to reach 1.51 million units, down about 2.7 percent, or 40,000 units, from June 2018.

The reading represented a more than 5 percent decline from May. The report cited "affordability" as a major concern for the market.

In total, vehicle sales in the first half of 2019 are expected to be down 2.2 percent.

A separate report by auto data firm Edmunds forecasts that 1,501,158 new cars and trucks will be sold in the United States in June, a 5.4 percent decrease in sales from May, and a 3.3 percent drop from June 2018.

The 2019 sales through June are expected to be down by 2.5 percent year over year, it added.

"We're expecting to see the industry continue to settle into a slower sales pace as we head into the rest of 2019," said Jeremy Acevedo, Edmunds' manager of industry analysis.

Analysts at New York-based research firm eMarketer noted that slowing U.S. auto and auto parts sales will weigh down the entire retail sector.

Statistics showed that record volume for June occurred in 2005 when sales reached 1.67 million vehicles.

Automakers in the U.S. market are set to report June sales results on July 2, according to Autodata.
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