8/1/2018

U.S. Car Sales Drop 4%

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July car sales in the U.S. fell 4% to 1.36 million units, and the annualized sales rate fell below 17 million for the first time in 12 months.

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July car sales in the U.S. fell 4% to 1.36 million units, according to Automotive News.

AN calculates annualized sales for the months dropped to 16.7 million units, the weakest pace since last August. It also was the first time this year that the rate dropped below 17 million units.

Demand for light trucks through the first half of 2018 grew 4%. Sales of conventional cars plunged 18%, resulting in overall market expansion of 1%.

July’s volume was pulled down by shrinkage at General Motors (an estimated -3% to 219,300 units), Toyota (-6% to 208,800), Ford (-3% to 192,700), Honda (-8% to 138,600), Nissan (-15% to 108,800) and Hyundai-Kia (-5% to 104,900).

Companies posting year-on-year gains for July include Fiat Chrysler Automobiles (+6% to 171,000 vehicles), Subaru (+7% to 59,400) and Volkswagen Group (+8% to 54,000).