Sales Summary
According to preliminary estimates, US Light Vehicle (LV) sales grew by 7.3% YoY in July, reaching 1.39 million units. With an additional selling day compared to July 2024, sales showed a 4.1% YoY increase on a selling day-adjusted basis. The daily selling rate for July was 53.6k units/day, up from 52.7k units/day in June. The annualized selling rate was estimated at 16.6 million units/year in July, a significant increase from 15.2 million units/year in June. Retail sales totaled 1.19 million units, up by 10.8% YoY, while fleet sales reached 206k units, a 4.5% YoY decrease.
OEM Analysis
GM retained its position as the bestselling OEM in the market, with total sales of 237k units and a market share of 17.0%. Despite the impressive monthly volume, GM’s market share has declined for three consecutive months. Toyota Group ranked second in July sales with 218k units and a 15.6% share, showing a 19.9% YoY sales increase. Ford Group took third place with 182k units, with its market share dropping to 13.1% in July after a strong Q2 performance.
Model Analysis
The Ford F-150 maintained its position as the nation’s top-selling model in July, with 44.2k units sold. The Toyota RAV4 and Chevrolet Silverado followed in second and third place, respectively. The ranking of the top three models remained unchanged from June, with the Chevrolet Equinox achieving its highest volume since March at 31.8k units.
Segment Analysis
In July, Compact Non-Premium SUVs recorded a market share of 21.5%, the highest since March. Midsize Non-Premium SUVs also saw an increase in market share, reaching 17.2%, the highest since May 2022. The Large Pickup segment, after two strong months, saw its market share ease back to 13.8% in July.
Forecast Updates
Recent trade deals and tariff uncertainty have impacted OEMs, with some reporting financial losses or reduced profitability due to tariff costs. With greater clarity on tariff rates, the industry can expect a benchmark rate of 15% for countries outside North America. Despite challenges in negotiations with Mexico and Canada, the outlook for US sales in 2025 is around 15.7 million units, showing improvement from the original forecast.
Overall, the US market has shown resilience in the face of tariff impacts, with OEMs adapting to changing trade dynamics. As the automotive industry navigates uncertainties, maintaining a business-as-usual approach and focusing on market share remain key strategies for growth.
This article was originally published on GlobalData’s Automotive Intelligence Center and Just Auto, providing valuable insights into the evolving automotive market landscape.
