June US Auto Sales 2.9% down
June 2017 US Auto sales dropped 2.9%. Following the overall 2017 year to date trend. Most automakers sales drop June 2017 vs June 2016. The only automakers that didn’t have a decline were:
Honda (0.8%)
JLR (3.1%)
MB (1.1%)
Nissan (2.0%)
Subaru (11.7%)
Tesla (29.4%)
Toyota (2.1%)
VW (10.9%)
*Source: Automotive News Data Center
Interesting to see how SUVs, CUVs, and light trucks preference seems to be a long term trend affecting automakers with weak offerings in these areas.
These are interesting parts from the article David Phillips wrote for Automotive News.
“The advances at the biggest Japanese companies were all in the low single-digit range, fueled largely by truck sales. Ford retreated 5.1 percent after posting its first sales gain of the year in May. General Motors deliveries fell 4.7 percent while continuing to point to a reduction in lower-profit sales to daily rental fleets. Fiat Chrysler was down 7 percent.”
“U.S. light-vehicles sales are now down 2.1 percent for the year. The downturn follows seven consecutive years of rising demand, including records in 2015 and 2016.”
“Edmunds.com reported the average monthly payment on a new car or light truck has jumped above $500, forcing many buyers to stretch wallets and purses more than ever. The consumer shopping site estimates the average length of a new-vehicle loan hit a record 69.3 months in June, with the average amount of financing hitting $30,945, an increase of $631 from May.
Morgan Stanley analyst Adam Jonas says the U.S. new-vehicle market is entering a period of an “eroding plateau,” when the SAAR remains at healthy levels but overall monthly unit volume continues to decline or remain flat year over year.”
