Automakers will report on June sales Friday morning and most analysts are predicting sales will remain strong. Depending on the forecaster, sales will increase from 3.8 percent to about 5 percent. But some analysts are uneasy with the rising incentives automakers are offering to retain those sales numbers. How much will consumers spend for new vehicles? How about $37.5 billion dollars for the month of June, according to J.D. Power.
A New York consulting firm, Alix Partners, believes auto sales will end the year slightly down from previous forecasts. That would be total light vehicle sales of 17.5 million, down from a previous forecast of 17.8 million, according to Automotive News. If they are correct, that would end a period of seven straight years of sales growth.
GM’s chief economist believes that Britain’s exit from the European market will have a minimal effect on U.S. sales. But he believes it is too early to see what the exit will have on the European auto market. But Mustafa Mohatarem said the decision may cause the Fed to hold off on any interest rate increases and that would be good for U.S. sales.
The man who created the Ford advertising slogan that “Quality is Job 1” has died. Robert Cox suffered from complications caused by a heart attack. He was 78. Cox was also known for the “Just Say No” antidrug campaign used by former First Lady Nancy Reagan.
Chevrolet has been named the “Official Truck of the Sports Car Club of America” and will haul equipment trailers to nearly 30 events, or about 70.000 miles a year.