United States automakers warn that industry has peaked as August sales slow

Sales of new light vehicles were still up 3.7 per cent year-to-date compared to 2015.

General Motors' sales dropped 5 per cent from last August while Ford's sales were down 8 per cent. Toyota's sales were down 5 per cent, Honda's fell 4 per cent and Nissan's dropped 6.5 per cent. Volkswagen's sales dropped 9 per cent.

Deliveries of its highly profitable large pickups fell: Chevrolet Silverado sales were down 4.7 percent and GMC Sierra fell 18 percent.

Automakers offered a positive take on the numbers, saying the average amount customers paid for a auto or truck - the average transaction price or ATP - had increased.

USA auto sales fell about 3.5 percent in August, and some major automakers said a long-expected sales decline has begun or, at best, that sales have hit a plateau, which may spark a shift to juicer customer incentives and slowed production.


Incentives were lower than in July, when GM offered 20 percent cash back on several Chevrolet models, according to vehicle-shopping website TrueCar. Low gas prices, low interest rates and strong consumer confidence should keep people buying, even if it's at a slower pace. Fiat Chrysler dropped 1.2 percent in NY trading.In late July, Ford was the first major automaker to confirm the lofty sales gains achieved since 2010 were at an end, even though they are still about 65 percent higher than the lowest sales year in 2009.Mark LaNeve, Ford's USA sales chief, said on Thursday the company will ring up fewer sales in 2017 than this year.

Ford reported an 8% sales decline.

"It's too close to call whether 2016 will surpass 2015's record-setting sales", senior analyst Michelle Krebs of Autotrader told AFP. The Jeep brand posted a sales gain of 12% year over year as the Jeep Cherokee posted a sales gain of 41%, the Compass posted a monthly sales gain of 29% and Grand Cherokee sales rose 12%.

Sales of new vehicles stumbled in August and as a result General Motors, Ford, Nissan and Toyota all reported significant drops sales year over year but transaction prices continued to increase right along with incentives, analysts said. However, GM's retail sales fell about 5 per cent, in line with its wider total sales decline.

GM says its rental sales are down 34 percent so far this year.


General Motors and Ford Motor Co. posted lower US sales in July while volume at Nissan Motor Co., behind record crossover and truck demand, rose 1.2 percent.At GM, deliveries slipped 1.9 percent. A 7 percent rise at Lincoln offset some of the decline at the bigger Ford division. Ford reported a whopping 27 percent decline in vehicle sales, reflecting buyers' overwhelming preference for SUVs. Despite the drop, average prices continued to climb, which support profits even if industrywide sales were to fall this year for the first time in seven years.

Ford's F-Series lineup, the best-selling nameplate in the US, dropped 6.1% to 66,946 units sold during the month.

Fiat Chrysler's sales rose 3 percent to 196,756.

Sales slumped 13 percent at Mazda and 9.1 percent at the VW brand, where US volume has slid every month beginning with November as the company struggles to move past violations of USA diesel emissions rules. But Ram, Jeep and Dodge sales were up. SUV demand remained strong; Rogue small SUV sales were up 19 percent. That figure was down 2.2 percent from July 2016, as automakers launched sales to clear out 2016 models.



Popular
  • Kerry urges Bangladesh to step up efforts against terrorism

    Responding to questions after giving a speech, Kerry said he had a "very candid" conversation with Hasina. He also sent Assistant Secretary of State South and Central Asian Affairs Nisha Desai Biswal to Dhaka.

    Ariana Grande gets inked with Mac Miller

    She shared this sideways Polaroid of her getting the work done on Instagram with the caption: "I think this is my 13th". The pair began as friends when they collaborated on her 2013 single "The Way" - even smooching in its video .
    Biden announces new funding for Amtrak Northeast Corridor

    Biden announces new funding for Amtrak Northeast Corridor

    Amtrak and Alstom said prototypes for the new trainsets will be ready in 2019, and enter commercial service two years later. In addition, money also will be used to upgrade tracks in Maryland between New Carrollton and Baltimore.
  • France criticizes Turkish military intervention in Syria

    Over the past few days, Syrian rebels backed by the Turkish military have clashed with Kurdish fighters inside Syria. Turkish leaders have vowed to drive both IS and the Kurdish People's Protection Units, or YPG, away from the border.
    Failed terrorist attempt on Indonesian Catholic Church

    Failed terrorist attempt on Indonesian Catholic Church

    Images have emerged of the suspected terror attacker lying bloodied on the ground after churchgoers held him for police. He then attacked Mr Pandiangan, 60, who was taken to hospital with slight injuries.

    ESO Discovers Earth-Size Planet in Habitable Zone of Nearest Star

    Researchers confirmed on Wednesday the existence of an Earth-like and potentially inhabited planet, called Proxima b. The dwarf star also puts out a lot more solar flares than we see here on earth, bombarding Proxima b with X-rays.
  • Alicia Keys Went to the VMAS Without Wearing a Drop of Makeup

    The 35-year-old singer stunned without makeup next to husband Swizz Beatz on the awards show red carpet at Madison Square Garden. In honor of the 53rd anniversary of the famous "I Have a Dream" speech, she recited a poem about racial and gender equality.
    Justin Bieber is back on Instagram after a 2-week break

    Justin Bieber is back on Instagram after a 2-week break

    And Justin soon fired back: "It's amusing to see people that used me for attention and still try to point the finger this way. There were also plenty of Selena Gomez fans that took the opportunity to compare Bieber's ex with his current girlfriend.
    Michael Phelps put a name to his famous Phelpsface: Future

    Michael Phelps put a name to his famous Phelpsface: Future

    The 23-time Olympic gold medalist presented at the MTV VMA's on Sunday night, where he threw praise towards the Atlanta rapper. Phelps said that it was Future's song " Stick Talk " that helped power him to a grand total 23 gold.
  • Spotify fights against exclusives after Frank Ocean album drops on Apple Music

    The new September 10-dated chart (where Blonde bows at No. 1) will be posted in full to Billboard's websites on Tuesday, Aug. 30. The album delivers a sensation of familiarity because it has a very cohesive feeling to it, similar to "Channel Orange".

    Hillary Clinton: Foundation 'looking for partners'

    Trump (@realDonaldTrump) August 25, 2016Hillary Clinton only knows how to make a speech when it is a hit on me. The messages could become public in mid-October, just weeks before Election Day.

    Brazil didn't mess up Games, nor did it make most of them

    The yin and yang Olympics, one of stark contrasts between the feats on the field and regrettable actions off it. Kevin Durant scored 30 points and helped the Americans rout Serbia 96-66 for their third straight gold medal.

CONNECT