Edmunds.com, the online car shopping and automotive information web site, forecasts that 1,328,397 new cars and trucks will be sold in the U.S. in July for an estimated Seasonally Adjusted Annual Rate (SAAR) of 15.8 million. The projected sales will be a 5.3 percent decrease from June 2013, but a 15.2 percent increase from July 2012. Edmunds.com anticipates that this month will be the biggest July performance since 2006 when automakers sold 1,489,359 vehicles.

“Overall sales are undoubtedly strong, but what makes July truly impressive is that fleet sales are so low,” says Edmunds.com Senior Analyst Jessica Caldwell. “That means retail sales are stepping up as the driving force for the auto industry. When people jump back into the market, it’s great news not just for the auto- motive sector, but for the entire U.S. economy.”

Edmunds.com estimates that retail SAAR will come in at 13.6 million vehicles in July, with fleet transactions accounting for 14 percent of total sales, the lowest proportion for any month this year. An estimated 3.18 million used cars will be sold in July, for a SAAR of 36.2 million (compared with 3.07 million – or a SAAR of 37.1 million – used car sales in June).

Content provided courtesy of Detroit Auto Scene. For more automotive news visit detroit autoscene.com.

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