Steel Markets

June Auto Sales Exceed 17 M SAAR for Second Month

Written by Sandy Williams

US light vehicle sales in June reached a seasonally adjusted annual rate of 17.1 million, the first time consecutive months were above 17 million since June and July of 2005. The SAAR was slightly below expectations and came in at the bottom of the consensus range (17.1 M to 17.8 M) posted by Bloomberg.

Actual volume for the month totaled 1.47 million units, with small and mid-size trucks leading sales. Sales for the first half of 2015 were at a 10 year high of 8.49 million, up 4.4 percent from 2014.

“We just wrapped up the U.S. auto industry’s best six months in a decade, driven by strong demand for pickups and crossovers,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “People feel good about their jobs and the direction the economy as a whole is taking, so the second half of the year should be strong too, and that’s especially good news for Chevrolet and GMC, brands that have very broad truck and crossover portfolios.”

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