June New-Car Sales Bring In Record Month, First-Half Of The Year, According To Kelley Blue Book

IRVINE, Calif., June 27, 2016 /PRNewswire/ -- New-vehicle sales are expected to increase 5 percent year-over-year to a total of 1.55 million units in June 2016, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to Kelley Blue Book www.kbb.com, the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  The 1.55 million units would bring the first half of the year's total to 8.66 million, the highest on record and up 2 percent from last year.

"June 2016 is expected to bring mostly positive numbers for the new-vehicle sales and the industry remains on pace for another top performing year," said Tim Fleming, analyst for Kelley Blue Book.  "As we head into summer, sales should stabilize just slightly ahead of last year's pace.  This month's volume will mark the highest June since 2005, when 1.67 million units were sold during a wave of discounts."

Key Highlights for Estimated June 2016 Sales Forecast:

• In June 2016, new light-vehicle sales, including fleet, are expected to hit 1,530,000 units, up 5 percent from June 2015 and up 1 percent from May 2016.
• The seasonally adjusted annual rate (SAAR) for June 2016 is estimated to be 17.1 million, up from 17.0 million in June 2015 and down from 17.4 million in May 2016.
• Retail sales are expected to account for 78.6 percent of volume in June 2016, down from 79.5 percent in June 2015.

Subaru to Report Largest Percentage Gains; Honda Continues Growth Streak on Models in Declining Segments
Kelley Blue Book expects sales increases from most manufacturers in June 2016; however, Subaru could report one of the largest percentage gains. 

"Subaru has been the fastest-selling brand this year by far, with models averaging just 27 days to turn, but sales have been hampered by low inventories," said Fleming.  "While still tight, inventory is much better than last year and should help Subaru achieve another record month."

American Honda also should continue its strong run this month, with expected growth of 10 percent.  Honda's top two models, the Civic and Accord, will offer the most growth for the automaker, which is remarkable since consumer preference is shifting away from these segments.

Compact SUVs Remain Top Segment, While Mid-Size Car Share Falls Year-Over-Year
Compact SUVs will remain the top segment in June 2016 and will be boosted by a refreshed Ford Escape and redesigned Kia Sportage.  Models in this segment remain in high demand, averaging 61 days to turn this year, while compact and mid-size cars are averaging nearly 80 days. 

Mid-size cars will drop nearly a point of share year-over-year, as the volume should remain flat.  The Honda Accord and redesigned Chevrolet Malibu are two bright spots among this segment, but most models will decline from this time last year.

There are 26 sales days in June 2016, compared to 25 sales days in June 2015.  All percentages are based on raw volume, not daily selling rate. 

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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used 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, and governmental agencies.  Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2015 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for four consecutive years.  Kelley Blue Book Co., Inc. is a Cox Automotive™ brand.

About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has nearly 30,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

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SOURCE Kelley Blue Book