The June 2025 SAAR came in at 15.3 million units, down 1.7% from last month but up 2.3% from June 2024. The noticeable decline in the June 2025 SAAR continues the trend of softer sales after the pull-ahead effect seen in March and April, as consumers likely aimed to beat any tariff-related increases. Mercer Capital expects the July 2025 SAAR to end up near the June 2025 SAAR — above the 15 million mark — but perhaps a bit muted from the trendline we observed at the beginning of 2025. While tariff-related uncertainty persists, it is likely that supply chain, sales volumes, profits, and blue sky multiples will remain under pressure in the coming months.