July Vehicle Sales Forecast: 16.1 million SAAR, Up 1% YoY
- Details
- Created: Monday, 22 July 2024 18:29
- Written by Calculated Risk
From WardsAuto: July U.S. Light-Vehicle Sales Tracking to Strongest SAAR So Far in 2024 (pay content). Brief excerpt:
An expected boost to volume in July from lost sales in June, caused by
a cyberattack affecting dealer management systems, will not be as big as initially expected. Dealers apparently were quite adept at finding alternative ways to reporting sales and lost volume was less than thought. Still, July’s forecast SAAR of 16.1 million units is the highest for any month this year and inventory will enter August at a five-year high for the period.
emphasis added
Click on graph for larger image.
This graph shows actual sales from the BEA (Blue), and Wards forecast for July (Red).
On a seasonally adjusted annual rate basis, the Wards forecast of 16.1 million SAAR, would be up 5.3% from last month, and up 1.0% from a year ago.
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday: • At 7:00 AM ET, The Mortgage Bankers
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