Posted By
TRACY SCHNEITER
on
7/6/2010 4:42 PM
June automotive sales posted a solid 16% gain over 2009 sales but were off by nearly 11% from the previous month of May 2010. IRN believes that aggressive sales incentives and increased financing offerings in May brought many consumers to the buying table. While over 5.5 million vehicles have been sold in the first six months of 2010 compared to only 4.8 million in 2009 (the ‘Great Recession’), this year is a bumpy year at best.
IRN doesn’t expect to see sales hit the basement again like last year but economic factors continue to point to extremely cautious consumers who continue to look for bargains and wait on the sidelines as long as possible. As a few new models start to peek their noses out into the market soon, sales should perk up for a couple of the OEMs in particular (i.e. Chrysler, thanks to their upcoming Grand Cherokee, and Ford’s Fiesta). Overall, IRN expects US vehicles sales to top off around 11.8 to 11.9 million light-duty vehicles in 2010.
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