J.D. Power and LMC Automotive forecast gains in retail vehicle sales as industry nears peak of the auto sales recovery.
New-vehicle retail sales in July are expected to increase 2.1 percent from a year ago to 1,318,300, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.
Sales growth in July is supported in part by an extra weekend in 2016, compared with July 2015. Consumer spending is poised to surpass $40 billion for just the fifth time in history, even with modest sales growth, as new-vehicle retail transaction prices are at record levels for the