Pickup Trucks, Compact Cars And Crossovers Drive July New-Car Sales Up 16 Percent

IRVINE, Calif., July 25, 2013 /PRNewswire/– New-car sales are expected to improve 16.1 percent in July 2013 to a total of 1.34 million units, with strength among pickup trucks, compact cars and crossovers, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information.

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While the overall economy continues to improve at a slow pace, demand for new vehicles is rapidly approaching pre-recession levels. Due to economic improvement during the first half of the year, Kelley Blue Book is raising its sales forecast from 15.3 million to 15.6 million for 2013.

Key Highlights for Estimated July 2013 Sales Forecast:

• In July 2013, new light-vehicle sales, including fleet, are expected to be 1,340,000 units, up 16.1 percent from July 2012 and down 4.4 percent from June 2013.
• The seasonally adjusted annual rate (SAAR) for July 2013 is estimated to be 15.8 million, up from 14.0 million in July 2012 and down from 15.9 million in June 2013.
• Retail sales are expected to account for 86 percent of all sales in July 2013.

"As new-car demand continues to improve with leases accounting for nearly 25 percent of all new-car sales, along with continued solid truck sales, we've improved our forecast for 2013 to 15.6 million units," said Alec Gutierrez, senior market analyst at Kelley Blue Book. "Consumer confidence has a played a key role in the ongoing recovery and currently is at the highest levels seen since January 2008.  With modest improvements in unemployment and housing expected to continue through the rest of the year, confidence likely will follow suit, driving new-car demand along with it."

Kelley Blue Book's Gutierrez continues, "Detroit manufacturers are seeing some double-digit increases in July, due to strong truck sales and redesigned vehicles, with GM seeing improved increases from the Chevrolet Cruze, Cadillac ATS and XTS."

"The full-size truck segment is expected to be up more than 30 percent in July 2013 and likely will see continued interest in the second half of the year, when sales typically are the strongest," said Tim Fleming, market analyst at Kelley Blue Book.  "We also are seeing strength in the compact car and crossover segments, with expected increases of 18.3 percent and 23.2 percent, respectively."

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Suggested Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week.  The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. KBB.com provides consumer pricing and information on cars for sale, minivans, pickup trucks, sedan, hybrids, electric cars, and SUVs. Kelley Blue Book Co., Inc. is a wholly owned subsidiary of AutoTrader Group.

SOURCE Kelley Blue Book