Total vehicle sales were down from May to June, continuing theirbumpy ride through 2010. Sales fell from 11.6 million annualizedunits in May to 11.1 million annualized units in June, according toNAFCU's Marco Data Flash Report.
Car sales declined from 5.6 million annualized units in May to5.5 million in June. Sales of light trucks decreased from 6.0million annualized units in May to 5.6 million in June.
“Vehicle sales continued this year's zigzag pattern during June,declining more than expected. High unemployment, low householdwealth, plunging consumer confidence and the continuously tightcredit conditions made consumers hold off on big-ticket itemsduring the month, indicating that any pent-up vehicle demand willnot be released until the economic recovery gains more momentum andemployment numbers improve significantly,” said Katrin O'Connor,NAFCU staff economist.
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