Auto advertising, which is a huge ad category on TV, should get a bump from U.S. auto sales, which just set a record for the first six months of the year.
The AP reports that sales through June rose 1.5% to 8.65 million, edging the record of 8.5 million set last year. The report cites data from Audodata Corp.
Sales in June were strong after a disappointing May. June sales were up 2.5%, topping 1.5 million. “Ford, Honda, Fiat Chrysler, Hyundai, Subaru and Nissan all reported gains for the month,” the AP reports. “Sales were down at General Motors, Toyota and Volkswagen.”
The boom in auto sales, however, is showing signs of slowing. “After six straight years of growth — and record sales of 17.5 million last year — U.S. sales are beginning to plateau,” the report notes. “In the first six months of last year, for example, sales were up 4 percent, or more than double the pace of this year. But low gas prices, low interest rates, enticing new vehicles and strong consumer confidence should keep them at a very high level.”