Despite steadily rising inventory, sales have been stuck at roughly the same level for more than a year, including in July. July’s seasonally adjusted annual rate of 15.8 million units was not much better than the 15.6 million averaged per month since April 2023. While there is year-over-year volume growth in calendar year-to-date 2024, the 12-month trailing sales total has been stuck at 15.7 million units since March. Overarching reasons to what’s stopping sales from breaking that pattern appear to be the lack of more-affordable vehicles on dealer lots, as well as a dearth of updated mainstream products.
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U.S. Light-Vehicle Sales in July Remain Stuck in a Rut
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The Analyst Team
Haig Stoddard
Follow AnalystPrincipal Analyst, Forecast & Markets
Haig has followed the auto industry for over three decades, starting as a reporter and editor for Wards Automotive Reports, then transitioning to an automotive market analyst. He analyzes market trends related to new-vehicle demand, production, and powertrain take-rates, and forecasts vehicle connectivity and automation levels
Haig focuses on tying together demand, vehicle production, and powertrain trends. He also has created and co-created several of the company’s current analytical outputs related to forecasts, plant capacities, product cycle plans, market segmentation, and future vehicle propulsion reports. Currently, he supports the Wards Intelligence database and produces regularly scheduled and custom subscription-based posts tied to North American production, sales analysis, forecasts, and general global market analysis. He also is working on projects to help expand the company’s coverage of future trends by creating vehicle-based forecasts related to factory-installed equipment, such as ADAS and mobility.
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