KIMTF - Total new vehicle sales estimated to rise 16% in June: TrueCar

Data by TrueCar estimates total new vehicle sales to reach 1.29M units in June (+16% Y/Y, -16% M/M), when adjusted for the same number of selling days.Excluding fleet sales, U.S. retail deliveries of new cars and light trucks is seen at 1.13M units (+11% Y/Y, -17% M/M); fleet sales are seen 73% higher Y/Y and down 1% M/M.Used vehicle sales expected to reach 4M (+9% Y/Y, unchanged M/M).Seasonally adjusted annualized rate ((SAAR)) for total light vehicle sales is an estimated 15.2M, higher from 13M SAAR in June 2020."We have been closely watching declining levels of new car inventory since the beginning of the year...In addition to lower inventory, we continue to see a sharp downward trend in incentives (-33% Y/Y) and a corresponding increase in transaction prices (+5% Y/Y, +2% Y/Y) which could sway some shoppers to remain on the fence this month," Lead Industry Analyst Nick Woolard commented.With chip shortage, OEM operations have become

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Total new vehicle sales estimated to rise 16% in June: TrueCar