The auto market isn’t dead yet

The domestic auto industry is not dead yet. (With apologies to Monty Python.)

June new vehicle sales are estimated at 887,000 units, down 25.3% from June 2008 but down 3.9% from May 2009, according to a report issued Thursday (June 25) by Edmunds.com. Also, the combined monthly U.S. market share for Chrysler, Ford and General Motors is estimated to be 47% in June 2009, up from 46.6% in June 2008 and up from 46.5% in May 2009.

The seasonally adjusted annual rate (SAAR) is estimated at 10 million, according to Edmunds.

“The SAAR is finally back in double-digits,” Jesse Toprak, executive director of Industry Analysis for Edmunds.com, said in a statement. “We’re still a long way from 16 million unit sales, but things are moving in the right direction.”

Toprak also said incentives are likely to boost June minivan sales 12% over May, with “many families are rediscovering minivans as the most practical and least costly way to transport people and things.”

Edmunds made the following June estimates for each car maker:
• Chrysler: 83,000 units, down 29.1% compared to June 2008 and up 5.3 percent from May 2009.

• Ford: 147,000 units in June 2009, down 15.6% compared to June 2008 and down 7.7% from May 2009.

• GM: 187,000 units in June 2009, down 28.9% compared to June 2008 and down 2.1% from May 2009.

• Honda: 99,000 units in June 2009, down 31.4% from June 2008 and up 1.3% from May 2009.

• Hyundai: 67,000 units in June 2009, down 14.7% from June 2008 and down 6% from May 2009.

• Nissan: 57,000 units in June 2009, down 24.2% from June 2008 and down 14.8% from May 2009.

• Toyota: 138,000 units in June 2009, down 28.7% from June 2008 and 9.7% from May 2009.