U.S. Auto Sales Are About to Dump Out

ibankcoin.com / Dr. Fly / Mon Jun 26, 2017 9:39am EST

One of the major economic indicators that have proven to be worthy of investor attention is auto sales. Generally speaking, we all have one and we tend to buy new one’s when we feel good about the economy. During the 2008 financial crisis, home sales plunged by double digits — sending GM and F to the government with a tin cup — begging for bailouts.

While this downturn doesn’t seem to be that bad, it’s still negative growth at a time when the Fed is in the midst of a fucking insane hiking program.

According to JD Power and LMC Automotive, US sales fell by 2% in June, in spite of large discounts.

June U.S. new vehicle sales will be about 1.48 million units, a drop of 2 percent from 1.51 million units a year earlier, the consultancies said.

The forecast was based on the first 15 selling days of the month. Automakers will release June U.S. sales results on July 3.

The seasonally adjusted annualized rate for the month will be 16.5 million vehicles, down nearly 2 percent from 16.8 million units in the same month in 2016.

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