Related: New Car Prices Rise 3.1% in June
Cox Automotive Forecasts Small New-Vehicle Sales Bump in July
Cox Automotive is forecasting 1.38 million U.S. auto sales in July, which would represent a 0.5% increase from the same time last year.
July 26, 2019
Through the first six months of 2019, auto sales are down 2.2% — 200,000 units — year-over-year.
Photo by Eric Gandarilla.
1 min to read
Cox Automotive is forecasting 1.38 million U.S. auto sales in July, which would represent a 0.5% increase from the same time last year.
The seasonally adjusted annual rate is expected to drop to 16.6 million compared to last July's 16.7 million SAAR. Although July 2019 is expected to have a higher sales volume than July 2018, the fact that July 2019 had an extra sales day caused the SAAR to drop.
"Strong consumer confidence and employment gains are supporting stable demand for light vehicles," said Charlie Chesbrough, senior economist, Cox Automotive. "However, affordability issues continue to weigh on the market. The estimated average transaction price for a new light vehicle in the U.S. is $37,285 in the most recent Kelley Blue Book report, and we do not see this number coming down."
Through the first six months of 2019, auto sales are down 2.2% — 200,000 units — year-over-year.
Fleet sales have been a strong factor supporting the new vehicle-market through the first half of the year, noted Cox Automotive. Fleet sales are expected to remain strong through the rest of the year.
Cox Automotive is forecasting General Motors and Hyundai Kia to see the biggest sales boost in July. The biggest decline is expected to come from American Honda.
More Used Vehicle Values
Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
Read More →
Wholesale Used Vehicle Market Sustains Moderate Rise In Values, Prices
Trends continue to normalize after a strong start to the year, as consumers contend with higher gas prices in the coming summer months.
Read More →
Used EV Sales Grow In April
While EV sales declined, used EV sales grew, as tighter inventory and rising prices reflected a more normalized pace for the EV market.
Read More →
Wholesale Used Vehicle Prices Slightly Up In April
The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
Read More →
CAR 2026 Recap Part 2: Closing the Gap Between Data & Remarketing Value
The second half of CAR 2026 examined how fleets can translate lifecycle strategy, vehicle data, and market shifts into higher real-world results.
Read More →
CAR2026 in Two Words: Velocity, Value (Part 1)
The 2026 Conference of Automotive Remarketing convened with a mandate to involve a new constituency — fleet managers — and an updated mission to demonstrate unrealized value in de-fleeted vehicles.
Read More →
March Used Vehicle Inventory Falls To Lowest Since 2019
Franchised and independent dealers had a total of 1.95 million used vehicles in stock in March, the lowest on record in the current data set.
Read More →
Spring Bounce Pushes Q1 Used Vehicle Values Higher
Demand signals remain strong at auctions, with sales conversions, a clear sign of demand, reaching 68.2% in the most recent measure.
Read More →
CAR 2026: Get the Wall Street Update on the Key Players in Remarketing
From a Wall Street analyst's take on remarketing's key players to whether fleets need their own version of Carfax, CAR 2026's afternoon roundtables will answer key operational and industry questions.
Read More →
CAR 2026 Session to Uncover the Missing Data That's Costing Fleets at Disposal
Work trucks lose value at remarketing, not because they aren't worth more, but because the data to prove it rarely makes it to the auction.
Read More →