Auto Sales on Track for Stellar Second Half
Alan Mulally was still in the airplane business the last time the auto industry had a month as good as June.
As reported by Automotive News, Mulally’s final month as Ford Motor Co.’s CEO marked the first time since the summer he arrived in Dearborn, Mich., eight years ago that the seasonally adjusted, annualized U.S. selling rate hit 17 million. It was also the fourth consecutive month in which the SAAR topped 16 million after a frigid, slow winter.
Halfway through 2014, automakers are on pace to post full-year sales totaling 16.22 million vehicles, the most since 2006. And they are doing so with record transaction prices, lower incentives and about 4,000 fewer retailers than the last time demand was this high, which means both the factory and the dealer are making considerably more money.
“It’s a much healthier market today,” said Jesse Toprak, chief analyst at Cars.com. “That’s two months in a row that the industry surprised us, especially the last week of the month with a very strong retail performance. It shows us that the fundamentals are strong and consumer demand is strong.”
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