Car Sales for 2016 Expected to Set Records

By Edmunds.com, Special for  USDR

Edmunds.com, the leading car information and shopping network, forecasts that 1,537,436 new cars and trucks will be sold in the U.S. in May for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.5 million. The projected sales will be a 2.3 percent increase from April 2016, but a 5.8 percent decrease from May 2015. While sales appear to be slowing, Edmunds says that 2016 is still on track to break last year’s record of 17.47 million new car  sales.

“It’s easy to look at May’s sales and conclude that the retail car market is losing steam, but it’s too soon to say for sure that auto sales are leveling off,” says Edmunds.com Director of Industry Analysis Jessica Caldwell. “As in previous years, the summer months will flush out more incentives from automakers and the urgency that shoppers show in responding to these incentives will give the industry a much better sense of how the market is  trending.”

SALES VOLUME FORECAST, BY MANUFACTURER

Sales Volume

May 2016
Forecast

May 2015

April 2016

Change from May
2015

Change from April 2016

GM

254,643

293,097

259,557

-13.1%

-1.9%

Ford

242,771

250,086

229,739

-2.9%

5.7%

Toyota

220,006

242,579

211,125

-9.3%

4.2%

Fiat Chrysler

202,198

202,227

199,631

0.0%

1.3%

Honda

148,918

154,593

148,829

-3.7%

0.1%

Nissan

132,443

134,779

123,861

-1.7%

6.9%

Hyundai/Kia

123,529

126,043

118,721

-2.0%

4.0%

VW/Audi

43,244

53,186

44,913

-18.7%

-3.7%

Industry

1,537,436

1,631,260

1,502,527

-5.8%

2.3%

*NOTE: May 2016 had 24 selling days, May 2015 had 26 and April 2016 had 27.

Edmunds.com estimates that retail SAAR will come in at 14.3 million vehicles in May, with fleet transactions accounting for 18.5 percent of total sales. An estimated 3.2 million used cars will be sold in May, for a SAAR of 38.5 million (compared to 3.4 million – or a SAAR of 38.5 million – used car sales in  April).

MARKET SHARE FORECAST, BY MANUFACTURER

Market Share

May 2016
Forecast

May 2015

April 2016

Change from May
2015

Change from April 2016

GM

16.6%

18.0%

17.3%

-1.4%

-0.7%

Ford

15.8%

15.3%

15.3%

0.5%

0.5%

Toyota

14.3%

14.9%

14.1%

-0.6%

0.3%

Fiat Chrysler

13.2%

12.4%

13.3%

0.8%

-0.1%

Honda

9.7%

9.5%

9.9%

0.2%

-0.2%

Nissan

8.6%

8.3%

8.2%

0.4%

0.4%

Hyundai/Kia

8.0%

7.7%

7.9%

0.3%

0.1%

VW/Audi

2.8%

3.3%

3.0%

-0.4%

-0.2%

More insight into recent auto industry trends can be found in Edmunds.com’s Industry Center at  http://www.edmunds.com/industry-center/.

About Edmunds.com,  Inc.

Car shopping destination Edmunds.com serves nearly 20 million visitors each month. With Edmunds.com Price Promise®, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at 10,000 dealer franchises across the U.S. Shoppers can browse not only dealer inventory, but also vehicle reviews, shopping tips, photos, videos and feature stories on both Edmunds’ wired site and on its acclaimed mobile apps.  Regarded as one of the best places to workin Southern California, Edmunds.com was also named one of “The World’s Top 10 Most Innovative Companies of 2015 in Automotive” by Fast Company. Edmunds welcomes all car-shopping questions on its free Live Help Line at 1-855-782-4711 andhelp@edmunds.com, via text at ED411 and on Twitter and Facebook. The company is based in Santa Monica, Calif. and has a satellite office in downtown Detroit, Mich., but you can find Edmunds from anywhere on YouTubePinterestLinkedIn, Instagram,Google+ and  Flipboard.

SOURCE  Edmunds.com

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.