July Auto Retail Sales Expected to Hit Highest Level Since Before Recession - Beckley, Bluefield & Lewisburg News, Weather, Sports

July Auto Retail Sales Expected to Hit Highest Level Since Before Recession

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Cars.com

CHICAGO, July 29, 2014 /PRNewswire/ -- Cars.com forecasts July light, new-vehicle sales will hit 1,435,104 units, up 9.4 percent year-over-year and up 1 percent from June. A SAAR of 16.5 million is expected for July, an increase of 4.4 percent from this time last year and down 2.8 percent month-over-month.

Additionally, retail sales are expected to make up 86 percent of total sales this month, up 6.2 percent from July 2013.

"New-vehicle retail sales pace reached its highest level since before the recession in July, fueled mostly by cheap credit and a great selection of vehicles," said Jesse Toprak, chief analyst for Cars.com, a leading car shopping site and automotive digital marketing company. "Fiat-Chrysler is projected to post the largest increase in sales amongst the major automakers with a 22 percent improvement over July 2013."

Small SUVs continue to be the fastest-growing segment this year, stealing customers from the small-car and mid-size sedan segments.

Unit Sales

Manufacturer

July 2014 Sales Forecast

YoY

MoM

Fiat Chrysler

169,874

22.1%

-0.7%

Ford

213,418

10.5%

-3.6%

GM

256,712

9.7%

-4.0%

Honda

147,124

4.0%

14.0%

Hyundai/Kia

122,195

6.2%

3.5%

Nissan

117,841

8.1%

7.5%

Toyota

209,687

8.4%

4.0%

Volkswagen Group

48,750

-7.4%

-2.1%

Total

1,435,104

9.4%

1.0%

 

Market Share

Manufacturer

July 2014 Sales Forecast

Jun-14

Jul-13

Fiat Chrysler

11.8%

12.0%

10.6%

Ford

14.9%

15.6%

14.7%

GM

17.9%

18.8%

17.8%

Honda

10.3%

9.1%

10.8%

Hyundai/Kia

8.5%

8.3%

8.8%

Nissan

8.2%

7.7%

8.3%

Toyota

14.6%

14.2%

14.7%

Volkswagen Group

3.4%

3.5%

4.0%

ABOUT CARS.COM

Cars.com is an award-winning online destination for car shoppers that offers information from consumers and experts to help buyers formulate opinions on what to buy, where to buy and how much to pay for a car. Cars.com offers thousands of new and used vehicle listings, consumer reviews, side-by-side comparison tools, photo galleries, videos, unbiased editorial content and many other tools to take the drama out of car shopping. Cars.com puts millions of car buyers in control of their shopping process with the information they need to make confident buying decisions. Launched in June 1998, Cars.com is a division of Classified Ventures LLC.

©2012 PR Newswire. All Rights Reserved.