After a steep May decline and modest growth in June, which fell below expectations, U.S. auto sales expansion flatlined in July 2016, suggesting the market is poised for a slower second half than the early part of the year projected.
New vehicle sales volume rose less than 1 percent in July 2016, a year-over-year improvement equal to roughly 11,000 sales.
There were a number of significant improvements. July 2016 was the best July ever for American Honda, for example, as sales jumped 6 percent to 139,125 at the Honda brand, overcoming another Acura decline. Buick, up 10 percent last month, ended the January-July period with its best start to the year since 2005. The only brands with superior growth rates in July were smaller outlets: Smart, Volvo, and Scion.
Mixed in with these gains, however, were double-digit percentage losses from a bundle of Fiat Chrysler Automobiles brands: Maserati, Fiat, Alfa Romeo, and Dodge. (Read More…)