by Calculated Risk July 23, 2024 2:29 PM
WardsAuto says: U.S. light vehicle sales expected to hit highest SAAR ever in July 2024 (Paid content). Excerpt:
The boost in July sales due to the June sales drop caused by a cyberattack that affected dealer management systems will not be as large as initially expected. Dealers appear to have been quite adept at finding alternative ways to report sales, so the lost sales were less than expected. Still, The projected SAAR for July is 16.1 million units, higher than any other month this year. Inventories are expected to hit their highest level in five years in August.
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This chart shows BEA’s actual sales (in blue) and Wards’ July forecast (in red).
On a seasonally adjusted annualized basis, Wards’ forecast is for SAAR 16.1 million, up 5.3% from the previous month and 1.0% from a year ago.
