Following the wrap up of U.S. auto sales for June 2019, Stephanie Brinley, principal automotive analyst at IHS Markit, has offered her perspective on the trends she sees unfolding.
“Incoming results for the first half of 2019 are moving in the trajectory expected,” said Brinley. “Automakers are launching newly updated existing products and expanding product ranges in 2019, while largely maintaining incentive discipline in a modestly declining market. Most new products are seeing positive market reception. With many of the product updates in utility vehicle segments – and several more coming on line in the third quarter of 2019 – sales improvements are concentrated in utilities both by demand and supply.”
Chris Hopson, manager, North America light vehicle sales forecast, IHS Markit, added that the sales pace for June is expected to remain above the 17-unit SAAR pace for a second consecutive month.
“Overall, light vehicle sales volume in the first half of 2019 will be down approximately 1.9-2.2% or an estimated 180-200K from the first half of 2018,” said Hopson. “Looking into the second half of the year, IHS Markit expects similar volume results, resulting in a total 2019 light vehicle sales volume estimate of 16.8 million units. We expect continued month-to-month volatility in the SAAR readings as automakers adjust inventory and incentive levels, while consumers in the market for a new vehicle face rising prices and interest rates.”