New Vehicle Sales Still Lag

By Staff Writer June 28, 2022

New-vehicle retail sales for June 2022 are expected to decline when compared with June 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 965,300 units, a 18.2% decrease compared with June 2021 when adjusted for selling days. June 2022 has 1 additional selling day compared to June 2021. Comparing the same sales volume without adjusting for the number of selling days translates to a decrease of 15.0% from 2021.

New-vehicle retail sales in Q2 2022 are projected to reach 2,977,300 units, a 23.3% decrease from Q2 2021 when adjusted for selling days.

New-vehicle retail sales for the first six months 2022 are projected to reach 5,827,300 units, a 19.1% decrease from the first six months of 2021 when adjusted for selling days. The first half of 2021 was an all-time record for retail sales.

Total new-vehicle sales for June 2022, including retail and non-retail transactions, are projected to reach 1,133,000 units, a 15.8% decrease from June 2021. Comparing the sales volume without adjusting for the number of selling days translates to a decrease of 12.4% from 2021.

The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.1 million units, down 2.3 million units from 2021.

“Total retailer profit per unit – inclusive of grosses and finance and insurance income from new-vehicle sales are expected to reach first-half record levels on both a per unit and total basis,” said Thomas King, president of the data and analytics division at J.D. Power. “Profit per unit for the first half of 2022 is trending to reach $4,774, up $2,206 from the same period in 2021, while total profits are expected to reach $27.8 billion, up $9.4 billion from 2021.”

Rate this item
(0 votes)
Last modified on Tuesday, 28 June 2022 12:58