US auto sales expected to continue recovery in June: JD Power, LMC Automotive

US auto sales are expected to continue their recovery in June following a collapse in April, as coronavirus-led lockdown restrictions ease and buyers slowly return to the market, industry consultants JD Power and LMC Automotive said.

Record levels of incentives by automakers are supporting the sales recovery, with incentive spending on pace to reach $4,411, the highest ever for June. (Representational photo) (AP)
Record levels of incentives by automakers are supporting the sales recovery, with incentive spending on pace to reach $4,411, the highest ever for June. (Representational photo)

The consultancies estimate total US vehicle sales to fall about 25% to about 1.09 million units in June, slowing from an over 40% plunge in April and a 29% decline in May.

"The industry continues to show signs of recovery in June," the consultancies said in a statement on Friday.

Also Read : US new car sales in June seen down as much as 30%: Research firms

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"The combination of pent-up demand, states relaxing coronavirus-related restriction and elevated incentives are all providing a tailwind for the industry."

Record levels of incentives by automakers are supporting the sales recovery, with incentive spending on pace to reach $4,411, the highest ever for June and an increase of $445 from a year earlier, JD Power and LMC Automotive said.

Also Read : US auto industry in the midst of a once fabled ‘V-shaped recovery’: JPMorgan

But inventory constraints amid the Covid-19 pandemic and any easing of the pent-up demand could hurt the overall pace of the sales recovery, said the consultancies.

First Published Date: 27 Jun 2020, 10:11 AM IST
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