July auto sales figures have been rolling in and thus far the tally is above the magic 1 million mark that allows Sirius XM add enough subscribers to show some positive momentum going forward. The results appear to be off the pace predicted earlier in the month by Edmunds (12 million SAAR), JD Power (12.2 million SAAR), and SiriusBuzz (12.15 to 12.2 million SAAR). The biggest contributing factor was likely a weaker than last weekend of the month. We projected about 1.1 million cars would be sold. While these numbers may seem a disappointment when compared to the earlier projection, they are still impressive and July SAAR should come in at between 1.8 and 1.9 million.
For satellite radio investors, the news is still quite positive. Any number over 1 million delivers positive. The biggest winners seemed to be the imports, while the domestic makers, for the most part, saw modest improvement over last years numbers. SiriusBuzz will provide more in depth analysis of the data after the final numbers roll in.
Position - Long Sirius XM Radio