Cox Automotive June Forecast: Tight Inventory, High Prices Slow New-Vehicle Sales
ATLANTA, June 28, 2021 June U.S. new-vehicle sales are expected to showcase a market still well above last year s levels but one that is slowing after a frenzied spring buying season. Vehicle sales in June are forecast by Cox Automotive to fall to a seasonally adjusted annual rate (SAAR) of 16.4 million, up from last year s 13.0 million but down from May s 17.0 million pace.
June is expected to mark the second consecutive month of slowing sales after the market hit a red-hot, post-pandemic peak in April. The April sales pace of 18.8 million was among the strongest sales months in history, but the frenzy is forecast to slow as inventory constraints are now pulling the market back down to earth.