Around this time each year the car market as a whole tends to hope that sales figures will increase because of it being Memorial Day an all, however, it does not look to be the case this time round. Looking at a recent analysis, Memorial Day 2016 does not look as though it will boost May car sales.
In the report it says that new car sales for May 2016 look set to fall by at least 6 percent compared to last year, and so down to 1.53 million sales in all. Usually we see car sales increase during Memorial Day, as the major dealers usually have some amazing deals on offer, but not even this event looks set to help save those poor May figures.
Yahoo Finance says that according to Kelley Blue Book, one of the reasons for these results are two fewer selling days, along with retail demand not as it was this time last year. They understand that the market is holding sort of steady, but is not really increasing like the car market had assumed.
Let’s not get too down about this though, as sales are still very good, and in fact at record highs for the year so far. 2015 was not a bad year at all, and Kelley sees 2016 being even greater.
Having said that, not all car brands will see an increase, as the likes of General Motors seems to be in the decline, which must either mean people are unhappy with their pricing, or their range is not enough to stop potential buyers from going elsewhere, such as Ford.
GM is not letting that get them down, as they have already reduced the volume of their rental fleets, and so in time will start to see residual values strengthened.
The carmaker to have seen the largest gain is Nissan North America, which is due in part to the all-new Maxima. Do you think that these car brands could have done more to help improve on sales this month, and how can they improve for the future?