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New car sales holding steady

According to Kelley Blue Book, new vehicle sales are expected to total 14 million on a seasonally adjusted annual rate in July 2012.

The figures projected for July are consistent with previous predictions that vehicle sales would total 14.3 million through the first half of the year.

“Mid-size cars remain the top-selling segment in July,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. “The redesigned Toyota Camry has been a favorite among consumers since launching earlier this year, and we expect the redesigned 2013 Nissan Altima to add further fuel to the fire this month.”

The daily selling rate is projected to be 48,300 light-vehicle sales per day, which is an increase from the 47,500 per day seen last month and nearly a 19 percent increase from the July 2011 pace.

With more Americans heading to new car dealers to secure an auto loan for electric vehicles as a result of the charging market showing improvements, more hybrid and electric vehicles should be expected to be seen on the roads in the near future.

via Auto Finance News.

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