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You can see that the U.S. car market has slumped by just reading about the loss of the big automakers in March, but that’s not all. The rental car sector does also show weakening, as bonds from some of the largest companies in the market slid off the back of declining used car prices and falling sales. The premiums investors demand to hold bonds issued by Hertz and Avis Budget Group have surged amid the market souring on the industry, jolted further on Monday after the pace of auto sales fell 10 per cent since December. Bonds issued by the two companies were the three biggest ...
The so-called Big Three automakers reported March sales that were weaker than expected. The declines for Ford, GM, and Fiat Chrysler happened as consumers bought fewer sedans and more SUVs. Total vehicle sales rose at a seasonally adjusted annual rate of 16.63 million. That was short of the forecast for 17.30 million.. Here's the scoreboard:Nissan: 3% (2.8% expected)Ford: -7.2% (-5.9% expected)GM: 1.6% (7% expected)Fiat Chrysler: -5% (0.4% expected)Toyota: -2.1% (-1.2% expected)Subaru: 11.3%BMW: 3.5%Volvo: 9.3%Automakers shares slid in trading following the numbers. Ford fell by...
Well it might not surprise you anymore that the car sales market has a strong bound with the overall economy in the country, so it basically means if the new cars become harder to sell and the car stock at dealerships are still full, than there’s a problem in the middle. The retreat in the auto sector reported Monday mirrors lackluster broader consumer spending data released Friday. Both readings fly in the face of the two most-followed gauges of consumer sentiment, now at 17- and 11-year highs. It also contrasts with an index of optimism among small businesses -local car deal...
The second quarter for the 2017th year started not so bad, after car makers showed disappointing sales results for the first one. That could’ve been a warning for other types of spending, but a late recovery helped stocks avoid bigger losses. Stocks tumbled in morning trading after automakers including Ford and General Motors said passenger car sales slumped last month. Auto parts and rental car companies also tumbled. Spending by shoppers is a critical part of economic growth and investors found themselves wondering if spending will keep growing as it has in recent years...
What’s the most important US economic data which will get revealed next week? Of course that’s U.S. auto sales for the third month of the this year. That’s how we will release what really consumers are up to, and if the stock market had a rough ride in 2017. What do we expect? Specialists say we must wait for another solid month of sales of 17 million new cars at a seasonally adjusted rate for March, but nothing like those 18.4 million we got in December. The number would however point to a third consecutive decline on a 12-month rolling basis. With sales peaking ...
