Inventory shortages likely to cause July sales pace to weaken.
New-vehicle retail sales for the month of July are expected to grow from July 2020 but decline from July 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 1,187,300 units, a 3.7% increase compared with July 2020, but an 8.7% decrease compared with July 2019 when adjusted for selling days. July 2021 has one more selling day than July 2020 and two more selling days than July 2019. Comparing the same sales volume without adjusting for