U.S. auto sales expected to hit record in first six months

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

U.S. auto sales may be slowing, but they're still expected to set a record in the first six months of this year.

Sales through June were expected to be up 2 percent over last year to 8.66 million, according to Kelley Blue Book.

After six straight years of growth — and record sales of 17.5 million last year— U.S. sales are beginning to plateau. In the first six months of last year, for example, sales were up 4 percent, or double the pace of this year. But low gas prices, low interest rates, enticing new vehicles and strong consumer confidence should keep them at a very high level.

"As long as economic conditions — like low unemployment and easy access to credit — continue, the industry will be in a strong position through the busy summer sales months," said Jessica Caldwell, director of industry analysis for the car shopping site Edmunds.com.

June sales rebounded after a disappointing May. Sales were expected to rise 5.4 percent to more than 1.5 million, according to the car buying site TrueCar.com.

Fiat Chrysler said its June sales rose 7 percent to 197,073. Jeep sales jumped 17 percent thanks to Americans' strong preference for SUVs. Ram truck sales were up 14 percent. But car sales suffered. Chrysler brand sales fell 20 percent, while Fiat sales dropped 19 percent.

Nissan's sales jumped 13 percent to 140,553. Sales of its new Maxima sedan more than doubled over last year.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In