Auto sales slide again in July – Aug
Auto sales slide again in July
Ford ( F ) ‘s sales dropped 7.5% last month compared to 2016, while Fiat Chrysler ( FCAU ) posted a 10% decline and General Motors ( GM ) reported a 15% decrease.
U.S. vehicle sales have trailed behind two thousand sixteen levels every month this year, but it’s a harsh comparison since last year’s car sales hit record highs.
If the declines proceed, this will be the very first year since two thousand nine that sales are down across the industry.
One bright spot: the sales at Toyota ( TM ) , the third largest seller of vehicles in the Unites States. They climbed Three.6% compared to 2016.
Other Asian carmakers didn’t fare as well. Nissan eyed a 3% decline, while Honda ( HMC ) reported a 1.2% drop.
But it’s not all bad news — trucks and crossovers are actually selling utterly well.
“SUVs are up, cars proceed to decline, and sales are clearly done growing at breakneck speeds,” said Akshay Anand, executive analyst for Kelley Blue Book.
Toyota said that its RAV4 posted its best month of sales ever (more than 41,000 were purchased). GM said crossover vehicles and trucks accounted for 80% of July sales. And Ford has sold a record number of SUVs so far this year.
There’s good reason for that trend.
Gas prices remain low, which helps boost the sales of larger models. SUVs have also become more appealing as both their safety and fuel economy have improved.
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Auto sales slide again in July – Aug
Auto sales slide again in July
Ford ( F ) ‘s sales dropped 7.5% last month compared to 2016, while Fiat Chrysler ( FCAU ) posted a 10% decline and General Motors ( GM ) reported a 15% decrease.
U.S. vehicle sales have trailed behind two thousand sixteen levels every month this year, but it’s a harsh comparison since last year’s car sales hit record highs.
If the declines proceed, this will be the very first year since two thousand nine that sales are down across the industry.
One bright spot: the sales at Toyota ( TM ) , the third largest seller of vehicles in the Unites States. They climbed Three.6% compared to 2016.
Other Asian carmakers didn’t fare as well. Nissan witnessed a 3% decline, while Honda ( HMC ) reported a 1.2% drop.
But it’s not all bad news — trucks and crossovers are actually selling utterly well.
“SUVs are up, cars proceed to decline, and sales are clearly done growing at breakneck speeds,” said Akshay Anand, executive analyst for Kelley Blue Book.
Toyota said that its RAV4 posted its best month of sales ever (more than 41,000 were purchased). GM said crossover vehicles and trucks accounted for 80% of July sales. And Ford has sold a record number of SUVs so far this year.
There’s good reason for that trend.
Gas prices remain low, which helps boost the sales of larger models. SUVs have also become more appealing as both their safety and fuel economy have improved.
Mortgage
CNNMoney Sponsors
NextAdvisor
Suggested Offers
Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. . All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC and/or its affiliates.
© two thousand seventeen Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. .