The annual selling rate fell to its lowest point in 2021.
Lean inventories again hit the US sales performance, and July volumes were at 1.28 million units, according to LMC Automotive, the automotive global forecasting and market intelligence company. The volume indicates only a 3.5% year-on-year (YoY) increase, resulting from an improved economy and market reopening since last July. The annualized selling rate (SAAR) emphasizes the more pronounced cooldown from previous months. The SAAR fell to 14.5 million units in July from 15.3 million in June – and by more than 4 million units from the peak back in April.
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