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June 2016 retail sales growth turned negative, making the rest of the summer months even more critical for retailers.
Today, we’ll be taking a quick look at the June 2016 sales report and what’s projected ahead.
For the 3rd time in 4 months, retail sales growth turned negative, falling 2.4% from last year.
To summarize June’s performance, here are a few highlights:
- Midsize car continues its steady decline, remaining the worst performing segment in the industry on a Y/Y share change basis.
- Only a few car segments performed well, particularly for GM as its “20% off MSRP” promotional push did extremely well for Sonic and Impala.
- And lastly, pickups are all the hype with the F-150 and Silverado both performing well, and the launch of all-new Ridgeline brought many consumers to market.
Looking ahead, the peak summer sales season is upon us. July has 5 selling weekends and August is just around the corner with Labor Day.
To find new opportunity within your local market, please visit mypowerdealer.com. I’m Kris Rosychuk. Thanks for watching, stay tuned for the next edition of “Power Minute”!