Steel Markets
July US Auto Sales Disappoint Big 3
Written by Sandy Williams
August 2, 2016
Auto sale volume for July was mixed, with the largest manufacturers slipping in volume year-over-year and most of the smaller ones gaining by single digit percent but still below analyst estimates. FCA US picked up just 0.3 percent over July 2015, while GM sales dipped 1.9 percent, Ford dropped 3 percent, and Toyota sales decreased 1.4 percent.
July was still a strong month for auto sales, just not at the record setting pace that the U.S. auto industry has become accustomed to. Analysts polled by Reuter expected sales for July to be between just under 1.5 million and 1.54 million vehicles. WardsAuto puts the final July sales tally at 1.514 million vehicles compared to 1.507 million a year ago. Year-to-date volume is 10.1 million, 1.1 percent of the same period in 2015, said WardsAuto.
According to WardsAuto and AutoData, the seasonally adjusted annual rate for July is 17.8 million, right between analyst estimates of 17.5 to 18.1 million, and an 8-month high for the SAAR. Auto manufacturers are still hoping that 2016 will surpass the 2015’s record of 17.38 million units.
Sandy Williams
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