Auto sales on track for best June in over a decade
Auto makers are on track for their best June U.S. auto sales in more than a decade as summer sales started to heat up during the month.
U.S. auto sales are on track to hit an 11-year industrywide high, as cheap gasoline and easy credit continue to boost car-buyer confidence, steering many to purchase pricier trucks or SUVs. Sales also took a boost from an extra selling day in the month compared with the same period a year ago.
“As we head into summer, sales should stabilize just slightly ahead of last year’s pace,” said Kelley Blue Book analyst Tim Fleming. The firm estimates a 5% increase in sales, marking the highest for June since 2005.