U.S. Car Sales In First Half Of 2019 Expected To Be The Lowest Since 2013

New car sales across the United States have been falling and according to Bloomberg, the country may have just experienced its worst half year for new-vehicle retail sales since 2013.

While total sales for the first six months of the year have yet to be calculated, analysts from J.D. Power and LMC Automotive believe retail sales likely fell by 2.9 per cent to 3.3 per cent in the first half compared to the same time period 12 months ago. Consequently, the seasonally adjusted annualized rate of total sales is tipped to slow to around 17 million vehicles, down from the 17.3 million estimated in June 2018.

Also Read: Car Manufacturers Concerned About Slowing U.S. Auto Sales

Interestingly, while new car sales are slowing, the average price for new vehicles sold across the country is rising and on pace to reach $33,346 in the first half, the highest ever and a jump of almost 4 per cent from a year ago.

Bloomberg notes that the love American consumers have for SUVs and trucks is helping car manufacturers to preserve profits and retain generous incentives. Additionally, there is strong consumer confidence across the market as well as low employment, two important factors which go some way to explain why people are now spending more on their new cars.

One surprising tidbit from the report is that despite the slowdown on new car sales, rental-car companies and commercial buyers are actually purchasing more vehicles than previously. J.D. Power and LMC Automotive predict sales of fleet vehicles rose by 3.9 per cent in June and that the segment is on pace for a record year.

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  • kachuks

    More proof Americans can’t stop buying s*** they can’t afford.

    I’m perfectly fine with my 11 yr old truck.

  • charlotteharry57

    Well, to be honest, 2013 wasn’t exactly a watershed low point as far as sales. If the Great Recession actually ended in ’10 (some say ’09), then ’11 was when the current freewheeling sales streak began. Yes, it reached its frenziest probably around ’17. Many were predicting that we’d be mired in another big recession by now (one is overdue). Election years are usually economically-friendly, so, depending on the election outcome, it likely won’t begin until ’21. The problem is that vehicle prices have reached a point of “way overpricing” but they still keep buyin ’em (often stupidly), though not as many as before. Nothing really to worry about…yet.

  • Michael_66589

    So bad, these are maybe last days of normal ICE cars, in particular cheap V8 like Vortec and HEMI V8 before we will be flooded electric crap, so I wish they produce cars in big number to get possibility to drive ICE cars many years after production will be banned or strictly limited.

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