It sure looks like the recession that the White House continues to claim doesn’t exist is hitting the auto market. At least according to new projections by J.D. Power, who this week released their estimates and analysis for July 2022.

A joint forecast from J.D. Power and LMC Automotive predicts that “retail sales of new vehicles this month are expected to reach 988,400 units, a 10.8% decrease compared with July 2021 when adjusted for selling days”.

Without adjusting for for the one less selling day in July 2022, the plunge would have been 14.1%.

Total new vehicle sales for the month, including non-retail sales, also are expected to plunge to 1,159,700 units, a 5.7% decrease from July 2021, the release sales. Ex-the selling day adjustment, the fall would have been 9.2%.