As long as unemployment remains high, a robust recovery of vehicle sales may not be seen anytime soon.
That's according to NAFCU's Macro Data Flash report. Vehicle sales experienced a mild rebound in July, although the current sales rate still falls short of the pace from earlier in the year. Total vehicle sales in July increased from 11.5 million annualized units in June to 12.2 million annualized units, the data showed.
Over the past 12 months, sales were up by 5.5%. NAFCU said manufacturers continue to resist offering sales incentives, which are down 15% from a year ago.
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