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Stock Market Sell-Off? June Car Sales Stay Strong

Customers paying record transaction prices.

by on Jun.25, 2013

Ford is rapidly ramping up production of vehicles like the F-Series to keep up with rising demand.

As Mad Magazine mascot Alfred E. Neumann frequently asks: “What, me worry?” it seems like the recent stock market tumble, the worsening situation in Europe and ongoing economic concerns here in the U.S. are, at most, background noise – at least to American car buyers.

Sales of new cars and trucks continue to move along at a steady clip during June, according to new estimates from J.D. Power & Associates and LMC Automotive.  A monthly sales forecast based on direct dealer data indicates new-vehicle retail sales are showing no signs of letting up at the start of the summer selling season.

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New-vehicle retail sales in June are projected to come in at 1,118,800 vehicles, which represent a Seasonally Adjusted Annualized Rate of 13.2 million units, a healthy increase of 500,000 from the May SAAR. Retail transactions are the most accurate measure of true underlying consumer demand for new vehicles.


May Auto Sales on a Strong Pace

Pickup trucks show particularly strong demand.

by on May.23, 2013

The surge in truck demand should be especially good for GM as it launches the new Chevy Silverado.

Sales of new vehicles appear to be holding steady during May with strong demand for pickup trucks helping set the pace, analysts are reporting.

Just how much the market will be up for the month is a matter of debate, with forecasts ranging from 6% to 9%.  Significantly, consumers are driving much of the growing demand, though fleets are also increasing sales which could be a sign of a recovering economy.

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“We’re in a nice place in terms of retail sales,” said Mike VanNieuwkyuk of global vehicle research at J.D. Power & Associates. Car sales have recovered nicely from the recession and have maintained their recent momentum, VanNieuwkyk noted during a panel discussion at the Wards Auto Interiors