ARLINGTON, Va.—Total vehicle sales in June rebounded to a pace of 17.5 million seasonally adjusted, annualized units.
"Sales of light trucks continue to buoy the market, and June was the fourth consecutive month where light truck sales accounted for more than two-thirds of total units sold," said NAFCU Research Assistant Yun Cohen after analyzing the data.
According to Autodata Corp., sales of light trucks increased from 11.5 million to 12 million annualized units; car sales held at 5.5 million annualized units during June.
Monthly sales levels were up 4.6% from a year ago.
"Despite the improvement, the outlook for the second half of the year remains dim," Cohen said in a NAFCU Macro Data Flash report. "New vehicle sales currently face several headwinds including higher borrowing costs, tightening access to credit and increasing competition from the used-car market. In addition, potential tariffs on auto related imports could significantly inflate costs and further dampen sales."
Fiat Chrysler Automobiles' sales were 8% higher in June compared to a year ago. Also showing year-over-year sales gains were Honda (+4.8%), Toyota (+3.6%), Nissan (+1.2%) and Ford (+1.2%). General Motors, which only releases quarterly sales, reported a 4.6% gain in the second quarter compared to last year.