Automotive Sales volumes hold steady - Good sign for dealerships

Auto sales for the first half of 2016 finished up 1.4% from 2015, a sign that the US auto industry is halfway to another record, just barely, according to a recent article in Automotive News.  Most manufacturers posted slight increases.  In June, Chevrolet's sales were up 0.1% and Hyundai's just 0.01% or only 9 vehicles.  "That might be the name of the game for the rest of the year", said Akshay Anand of Kelley Blue Book.  "Gone are the days of double-digit sales growth for everyone."  Sales performance was buoyed by trucks and SUVs.  for example, at Ford F-series pickups surged 29% which offset a 0.8% decline for the rest of the lineup.  

The industry's seasonally adjusted selling rate came in at 16.68 Million, down from 17.4M in May.  Most analysts predict that sales should finish around last year's rate of 17.47M. "The overall market's still at an incredibly healthy level", said Mark LaNeve, Ford's vice president for US marketing, sales and service.  "Anything above 17 Million feels really good to us and our dealers and the entire enterprise."

Not only is this good news for the market, it is great news for dealerships that are for sale or on the market.