U.S. Auto Sales = 860,000
I'm fairly busy today, but I promised that I'd report back with a quick comment about the June's U.S. auto sales. All things considered, such as the fact that we're in the midst of a terrible recession, June was a solid month for auto sales. I don't know how to make that wavy equal sign that means about, but I have heard that sales for the month were around 860,000 units.
I haven't seen what the SAAR is for the month, but the SAAR is a bunch of BS anyhow. If one was to look at sales on a linear basis, the June sales amount to a pace of slightly over 10 million units per year...right in line with my projected bottom of 9.5 to 10 million units for 2009. According to everything that I have heard, sales picked up steam as the month went on. I suspect sales will continue to improve as the year progresses.