New Vehicle Sales Are at a Ten-Year High

If it seems like auto dealers are happy these days, it’s because new-vehicle retail sales this month are the highest they’ve been in any June since 2005, according to J.D. Power and LMC Automotive.

The companies are forecasting sales of new vehicles to reach 1,169,600 units for the month. That’s 1% higher (on a selling-day adjusted basis) than June 2014.

Another reason dealers are happy is that Americans are shelling out an average of $30,452 for new vehicles. That would beat the previous June record – set last year – of $29,813.

While all of this brisk selling may be making it tough to find a rock-bottom deal on a new vehicle, it does indicate that the economy is running strong.

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