FOR IMMEDIATE RELEASE
Edmunds.com Forecasts June Auto Sales And Lowers Forecast for 2008
SANTA MONICA, Calif. — June 25, 2008 — This month's new vehicle sales (including fleet sales) are expected to be 1.2 million units, a 16.7 percent decrease from June 2007 and a 13.3 percent decrease from May 2008, according to Edmunds.com, the premier online resource for automotive information.
June 2008 had 24 selling days, three less than June 2007. When adjusted for this difference, sales decreased 6.3 percent from June 2007. (The chart below sets forth other unadjusted and adjusted comparisons.)
|Change from June 2007 (Adjusted for more selling days)||Change from June 2007 (Unadjusted for more selling days)|
"There is still uncertainty in the marketplace, and we have no reason to believe gas prices will decrease in the short term," observed Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "Due to these conditions, we've lowered our 2008 sales forecast from 15.5 million units to 14.9 million units."
The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 45.4 percent in June 2008, down from 51.4 percent in June 2007 but slightly up from 45.3 percent in May 2008.
"Some analysts are predicting that Toyota will outsell GM in June," commented Michelle Krebs, Senior Editor of Edmunds' AutoObserver.com. "But GM's 72-Hour Zero Percent Financing sale will probably be enough to keep them on top."
Edmunds.com predicts Chrysler will sell 126,000 units in June 2008, down 31.2 percent compared to June 2007 and down 15.0 percent from May 2008. This would result in a new car market share of 10.4 percent for Chrysler in June 2008, down from 12.6 percent in June 2007 and down slightly from 10.7 percent in May 2008.
Edmunds.com predicts Ford will sell 181,000 units in June 2008, down 24.8 percent compared to June 2007 and down 15.2 percent from May 2008. This would result in a new car market share of 15.0 percent of new car sales in June 2008 for Ford, down from 16.6 percent in June 2007 and down slightly from 15.3 percent in May 2008.
Edmunds.com predicts GM will sell 240,000 units in June 2008, down 25.2 percent compared to June 2007 and down 10.8 percent from May 2008. GM's market share is expected to be 19.9 percent of new vehicle sales in June 2008, down from 22.2 percent in June 2007 but up from 19.4 percent in May 2008.
Edmunds.com predicts Honda will sell 147,000 units in June 2008, up 4.0 percent from June 2007 but down 12.8 percent from May 2008. Honda's market share is expected to be 12.1 percent in June 2008, up from 9.7 percent in June 2007 and even at 12.1 percent in May 2008.
Edmunds.com predicts Nissan will sell 85,000 units in June 2008, down 7.5 percent from June 2007 and down 15.4 percent from May 2008. Nissan's market share is expected to be 7.1 percent in June 2008, up from 6.4 percent in June 2007 but down slightly from 7.2 percent in May 2008.
Edmunds.com predicts Toyota will sell 217,000 units in June 2008, down 11.7 percent from June 2007 and down 15.7 percent from May 2008. Toyota's market share is expected to be 18.0 percent in June 2008, up from 17.0 percent in June 2007 but down from 18.5 percent in May 2008.
About Edmunds.com, Inc.
Edmunds.com, Inc. publishes three Web sites that empower, engage and educate automotive consumers and enthusiasts. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value® , is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in January 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in February 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.