Reports of July car sales are already flooding in, even though the month is not quite over, and overall vehicle sales are experiencing the second strongest growth rate they have seen in the past 12 months, according to J.D. Power and Associates. The automotive experts at J.D. Power predict new vehicle sales for the month will come in around 969,200 units. Although it is a modest decline from June sales, it's still promising for the year. Total sales, including used cars, will reach about 1,168,000 units in July, which is approximately 20 percent better than July 2011.<\/p>\n
"Retail sales got off to a fast start in July, and while they've slowed down a bit as the month has progressed, through the first 16 selling days, they're still up 15.1 percent compared to July 2011," said John Humphrey, senior vice president of automotive operations at J.D. Power and Associates. "The positive growth has continued to build, as July is looking strong across most vehicle segments."<\/p>\n
In particular, subcompact, compact and midsize vehicles are expected to show year-over-year gains of at least 28 percent in July. Sales of midsize crossover SUVs, on the other hand, are projected to slow in July.<\/p>\n