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Major automakers have reported their June sales data and let’s just say they were below our expectations. Even hefty consumer discounts and looser loan terms, couldn’t help car brands revive their new car sales.GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. General Motors’ shares added 1.8 percent on Monday, while Ford shares rose 3.3 percent. Ford Motor Co said its June sales were hit by lower fleet sales to rental agencies, businesses and government entities...
President Donald Trump told his counterpart Moon Jae-in during talks at the White House that he wants fair shake for U.S. automakers in South Korea, so they could sell more cars over there. He said he will press for changes to the current free-trade agreement to reduce the U.S. trade deficit with South Korea. He told reporters he was encouraged by “Moon’s assurances that he will work to create a level playing field” for U.S. exporters. Tensions with North Korea also figured prominently in the discussions as Trump signaled he would press for a tougher stance after t...
Another month, another drop in U.S. new-vehicle sales. Specialists are convinced that U.S. June car sales will mark the sixth consecutive year-over-year decline, which is going to be the worst half of a year since 2014. For June, forecasts from the most popular companies show sales coming in about 2 percent to 4 percent less than a year ago. The projections translate to a seasonally adjusted, annualized selling rate of 16.3 million to 16.6 million, which would be the lowest monthly rate in more than two years. GM, Toyota Motor Sales U.S.A., American Honda and Volkswagen Group of Ame...
The current slowdown in U.S. auto sales may be less severe for the auto industry than it seems. The reason is that most of the decline is in generally less-profitable fleet sales. The forecasting and consulting firms said they expect U.S. auto sales of just under 1.5 million in June 2017, down 2.3 percent from a year ago. That corresponds to a Seasonally Adjusted Annual Rate of 16.5 million, down from a SAAR of 16.8 million a year ago. The SAAR is an estimate for the full year of sales, based on the selling rate in a single month. June would mark the fourth monthly SAAR in a row bel...
Analysts say that U.S. auto sales in June will likely fall 2 percent from a year earlier despite large discounts for consumers, presenting a fresh sign that automakers are heading into a downturn. June U.S. new vehicle sales will be about 1.48 million units, a drop of 2 percent from 1.51 million units a year earlier. The forecast was based on the first 15 selling days of the month. Automakers will release June U.S. sales results on July 3. The seasonally adjusted annualized rate for the month will be 16.5 million vehicles, down nearly 2 percent from 16.8 million units in the same mo...
