U.S. new light-vehicle sales are expected to be down for a sixth consecutive month when automakers report June results Tuesday, July 2.
It would be the second time in three years that the industry failed to achieve a single monthly increase from January through June. That’s not to say showroom traffic has dried up. Automakers just aren’t flooding dealerships with big incentives to juice their monthly numbers as higher interest rates and rising vehicle prices cool demand.
“June auto sales aren’t hitting the same levels that they did last year, but they aren’t dropping off a cliff, either,” said Jeremy Acevedo, manager of industry analysis at Edmunds.
For the full report click here.