DETROIT (TheStreet) -- Light vehicle sales in the U.S. in June are expected to show a year-over-year decline of 2% to 3% percent in June, forecasters said, as quirks in the calendar will overshadow the industry's continued strength.
U.S. light vehicle sales gained 11.4% gain in May, which had five Saturdays, compared with four Saturdays in the same month a year earlier. By contrast, June had four Saturdays, compared with five a year earlier. Saturday is a prime day for selling cars. Additionally, June 2014 has 24 selling days, while June 2013 had 26 selling days.
Still, the seasonally adjusted annual sales rate is forecast to total 16.3 million to 16.4 million, up from 15.8 million in June 2013 but down from 16.7 million in May 2014.
"The industry will see lots of year-over-year and month-over-month declines, but that doesn't mean that June was a bad month for sales," says Edmunds.com analyst Jessica Caldwell, in a prepared statement. "There were fewer sales days in June 2014 than in June last year or in May 2014 (but) shoppers this month bought 2,700 more cars per day than they bought in June 2013. So the momentum is still very much alive."
In fact, "the U.S. auto market is arguably in the best position and health it has been in since well before the great recession," said LMC Automotive analyst Jeff Schuster in a prepared statement. "Sales are robust and stabilizing above a 16-million-unit pace and are back in balance with production levels, keeping inventory in check. While GDP growth remains below ideal levels, the auto market continues to be instrumental in helping drive the economy."