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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 U.S. auto industry turned in an underwhelming performance in March as sales disappointed despite rising discounts. The industry reported sales of 1.56 million vehicles for the month, down 1.6% from a year earlier, amid increasing inventories of unsold vehicles, especially of small cars. In the face of declining sales, now it's up to automakers to see if they can pare production of slow-selling models and reduce the profit-crushing practice of having to offer heavy discounts to clear out the backlog. Sales incentives rose 13.4% in March, compared to a year earlier, to an average of $3,5...
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 ...
March U.S. auto sales are expected to approach a record for the month, and account for the first year-over-year increase in monthly sales so far in 2017. New-vehicle sales in March should top 1.6 million, the highest for the month of March since 2000. The forecast is based on online auto shopping behavior through the first part of March. Automakers in the U.S. market are scheduled to announce March and first-quarter sales on Monday, April 3. Forecasters said the March increase should mean that U.S. auto sales for the first quarter would be about even with the first quarter of 2016. ...