U.S. Car Sales Declined 3% in June
Sales of new cars and light-duty trucks in the U.S. fell 3% to 1.51 million units last month, Automotive News reports.
Volumes have trailed year-ago levels all year, declining 2% to 8.42 million through the first half of 2019. But AN’s calculated annualized sales rate of 17.3 million units marks the third time in four months that the pace surpassed a healthy 17 million units.
Analysts say relatively strong fleet sales have been able to soften the slump in retail demand.
June sales fell at Ford (-5% to 218,700 units) and General Motors (-1% to 254,700). Both companies now publicly report sales results only on a quarterly basis only.
Fiat Chrysler Automobile’s Ram truck brand surged 45% to 75,200 units last month. That was enough to offset declining sales for Chrysler, Dodge and Jeep brands and give FCA a net 2% gain to 206,100 vehicles.
June sales retreated for other high-volume manufacturers. Deliveries dropped for Toyota-Lexus (-4% to 202,400 units), Honda-Acura (-7% to 135,900), Nissan Group (-15% to 123,500) and Mercedes-Benz (+1% to 29,300).
Gainers for the month include Hyundai-Kia-Genesis (+2% to 122,900 units), Subaru (+3% to 61,500), Volkswagen Group (+6% to 56,700), BMW Group (+4% to 35,000) and Tesla (+56% to 12,000).
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
If heritage means anything in this industry, then it is surprising that Buick doesn’t make more of its history because the story of the early years of the company is nothing short of astonishing.
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