The average transaction price in July was $34,264, a 2.5% increase from the year-ago period, according to Kelley Blue Book. The firm noted that transaction prices were up for all manufactures, with the exception of Nissan.
July sales totaled 1.435 million units, according to the firm. It put the July SAAR at 16.48 million units, up from 15.76 million in July 2013 but down from 16.9 million in June.
The SAAR for retail sales in July is expected to be 13.8 million units, an increase of 600,000 vehicles compared to the same period last year.
Edmunds.com forecasts that about 1.46 million new cars and trucks will be sold in the U.S. market in July, the highest July total since 2006.
BMW used demo sales to boost its July sales numbers in order to gain a competitive edge with Mercedes-Benz, The Wall Street Journal reported this week.
Edmunds.com predicts 1.16 million new-car sales for July in its auto sales forecast.
Stretching loan terms and improved credit availability are keeping sales motoring along despite recent slowdown.
Driven by an uptick in subprime loan approvals, the industry bounced back in July after a tough June. But an increasingly jittery consumer may put the brakes on sales going forward.
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