Steel Markets
Auto Sales Decline in June
Written by Sandy Williams
July 5, 2017
Auto sales took a dive in June with the top three American automakers reporting sliding sales and foreign automakers reporting mixed results. Ford Motor Co. sales fell 5.1 percent year-over-year, while GM sales slipped 4.7 percent. FCA USA sales plunged 7 percent, in part due to a planned reduction in sales to its rental operation.
In the foreign segment, Hyundai sales declined more than 19 percent and Mazda sales by 14.7 percent while Volkswagen and Subaru made gains of 15 percent and 11.7 percent, respectively.
Sales are expected to decline more than 2 percent for the month; Edmunds.com projects a drop of 2.3 percent and Kelley Blue Book 3.6 percent. Wards Auto predicts total sales for the month should come in at 1.46 million.
Honda, up 0.8 percent, described the automotive market in June as “catching its breath.”
“The auto industry has cooled off compared to last year’s record-breaking pace,” said Jack Hollis, group vice president and general manager, Toyota division.
Sandy Williams
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