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U.S. Auto Sales Continue Hitting The Brakes In July

U.S. Auto Sales Continue Hitting The Brakes In July

The U.S. auto market appears to be continuing its sales slow-down. In July nearly every major automaker generated fewer sales than last year, with the U.S. Big Three automakers posting sharp declines.

General Motors saw the worst hit last month, with the company reporting 15 percent fewer deliveries than July 2016. Fiat Chrysler Automobiles also saw a double-digit decline of 10 percent, while Ford Motor Company’s sales were off 7.4 percent. All three company’s reports missed analysts projections.

The losses were not isolated to the Big Three, though. Nissan and Volkswagen both reported losses of 3.2 percent and 2.6 percent, respectively. Even Japanese automaker Honda reported a small loss of 1.6 percent. Toyota is the only full-line automaker reporting sales gains for July, which posted a 3.6 percent increase, largely driven by demand for its RAV4 SUV.

After seven years of a post-recession auto sales boom, the market is clearly cooling off. Most analysts predict auto sales will continue to tumble through the second half of the year as peak demand has passed.

 





 

About Nick Saporito

AutoVerdict Senior Editor Nick Saporito began writing about cars at age 13. Nick ran a couple of automotive enthusiast sites for several years, before taking some time off to focus on his career and education. By day he's a marketing executive in the telecom world and by night he hangs out here at AV. You'll find him focusing on tech, design and the industry's future.
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  1. member12
    Automakers were pushing 6-7 year loans to sell cars in the past 5 years. I think they created a bit of a bubble then that is deflating a bit today, as fewer people are in the market that otherwise would be.
    0fxxk0
    What do mean that everyone can't buy a new $70k car every 3 months?!?!?!.
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