Auto sales on the up for the fourth consecutive month: Auto sales in July climbed 42.2% m-o-m to 11.4k vehicles, according to figures from the Automotive Marketing Information Council (AMIC) seen by Enterprise. Auto sales have been on the up for four consecutive months following a 43% m-o-m drop in March that saw the sale of just 4.2k vehicles — the lowest number of auto sales we’ve seen since we started keeping track in January 2019.

We haven’t seen auto sales like these for a while: The total number of vehicles sold is the highest reported since August 2022 — a whole 23 months ago — according to data tracked by Enterprise. Although a promising sign that customers may be beginning to return to the market, July’s figures are still well below the monthly average of 24.2k vehicles sold in 2021 before FX shortages stunted supply and gave distributors leverage to hike prices as they pleased.

Growth across the board: Passenger car sales saw the biggest jump, rising 50.7% from June to some 9.7k units in July and accounting for 85.5% of total sales. Meanwhile, bus sales inched up 4.9% m-o-m to 643 units and truck sales rose 8.1% to just over 1k units during the month.

On a yearly basis: Auto sales last July came 81.2% higher than the 6.3k units sold in July 2023. The growth was driven by a 97.6% y-o-y increase in car sales, a 13.6% y-o-y rise in bus sales, and a 27.2% climb in truck sales.

Always read the fine print: AMIC figures reflect data contributed by member distributors, who include most, but not all, industry participants.

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