Steel Markets
August 1, 2017
July Auto Sales Drop As Expected
Written by Sandy Williams
Automotive sales dropped sharply for most manufacturers in July. Edmunds and WardsAuto estimate total sales for the month to be 1.42 million units. The seasonally adjusted annual rate for July is expected to be 16.9 million, according to WardsAuto.
“July is historically a strong month, but with disappointing sales and inventories still building, something needs to give,” said Jessica Caldwell, Edmunds executive director of industry analysis in advance of Tuesday’s reports. “A lot is riding on late-summer sales events to help move vehicles before 2018 models start arriving at dealer lots.”
