July 2017 auto sales were expected to decline for a seventh consecutive month, sliding further and faster than at any point this year. In the end, with incentive spending up 5 percent, U.S. auto sales dropped 7 percent in July 2017, a year-over-year decrease worth roughly 105,000 sales.
Detroit was to blame for much of the losses, in part because of steep reductions in fleet volume. General Motors, Ford Motor Company, and Fiat Chrysler Automobiles combined to lose 76,000 sales. General Motors came within 4,050 sales of losing the top seller’s crown to Toyota as GM July volume fell to a five-year low. At Ford Motor Company, total Ford/Lincoln volume fell to a six-month low. Fiat Chrysler Automobiles suffered steep declines at Jeep, Chrysler, Dodge, and Fiat.
Detroit automakers were by no means the only manufacturers losing U.S. auto sales in June. The Honda brand was down 2 percent, Nissan slid 4 percent, Kia and Volkswagen both fell 6 percent, and Hyundai plunged 30 percent.
But there were also bright spots. Audi sales rose 3 percent for its 79th consecutive monthly increase. Subaru sales, rising 7 percent in July, improved for a 68th consecutive month. And at Toyota, where the RAV4 was by far and away America’s top-selling utility vehicle in July, total volume rose 4 percent to 193,155 units, the best month for the brand in 2017 and the second-best of the last two years. (Read More…)
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