US new-car sales on their way to a new record in June

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New-vehicles sales are expected to further increase in June, also pushing the figures to a new record for the first 6 months of the year.

After a 6 percent drop in May, the US auto market is expected to be back on growth at the end of this month. Kelley Blue Book projects the new-car sales to increase 5 percent year-over-year up to 1.55 million units, with an estimated seasonally adjusted annual rate (SAAR) of 17.1 million. The 1.55 million units would bring the first half of the year’s total to 8.66 million, the highest on record and up 2 percent from last year.

“June 2016 is expected to bring mostly positive numbers for the new-vehicle sales and the industry remains on pace for another top performing year,” Tim Fleming, analyst for Kelley Blue Book, said. “As we head into summer, sales should stabilize just slightly ahead of last year’s pace. This month’s volume will mark the highest June since 2005, when 1.67 million units were sold during a wave of discounts.” Retail sales are expected to account for 78.6 percent of volume in June 2016, down from 79.5 percent in June 2015.

Among the biggest automakers, General Motors is seen to slightly rise above the par with a 1 percent increase in June, after its sales plunged by 18 percent in May, Ford is expected to grow by 4,6 percent Ford is said to advance 2.4 percent, while Fiat Chrysler is to jump 8.6 percent. The biggest increases are expected to be posted by Honda and Subaru, up by 10.1 and 12.8 percent, respectively.