{"id":117188,"date":"2017-07-03T12:33:25","date_gmt":"2017-07-03T16:33:25","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=117188"},"modified":"2017-07-03T12:34:18","modified_gmt":"2017-07-03T16:34:18","slug":"us-new-vehicle-sales-continue-year-long-tumble-in-june","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2017\/07\/us-new-vehicle-sales-continue-year-long-tumble-in-june\/","title":{"rendered":"US New Vehicle Sales Continue to Tumble in June"},"content":{"rendered":"
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While GM sales were down 4.7% for June, its wildly popular crossover, the Equinox, saw sales jump 36%.<\/figcaption><\/figure>\n

Sales of new vehicles continued to sputter in June with General Motors, Fiat Chrysler and Ford reporting sales declines while rivals such Toyota, American Honda and Nissan posted meager gains as the industry struggled to match last year’s record pace.<\/p>\n

Fiat Chrysler Automobiles N.V. reported sales dropped 7%\u00a0in June compared with sales in June 2016. Much of the decline could be traced to a decline in sales of Jeep-brand products.\u00a0With key model changeovers underway,\u00a0Jeep sales dropped 11% in June and are down 13% during the first half of 2017. So far this year, FCA sales have dropped 7%.<\/p>\n

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News Now!<\/figcaption><\/figure>\n

In June, retail sales of 139,947 units were down 5% compared with the same month in 2016, and represented 75% of total sales. In line with FCA\u2019s strategy to reduce sales to the daily rental segment, fleet sales of 47,401 units were down \u2013 as expected \u2013 15% year over year. The largest planned volume reduction in June fleet sales came from the Jeep brand, which reduced its fleet sales number by 49% year over year.<\/p>\n

General Motors reported sales declined by 4.7% from the same period last year. However, in the fastest growing U.S. retail market segment, GM\u2019s crossover retail sales were up 23%, due largely to the strength of Chevrolet Equinox, which were up 36%. Buick\u2019s U.S. retail sales were up 6%.<\/p>\n

\u201cU.S. total sales are moderating due to an industrywide pull-back in daily rental sales, but key U.S. economic fundamentals clearly remain positive,\u201d said Mustafa Mohatarem, GM chief economist. \u201cUnder the current economic conditions, we anticipate U.S. retail vehicle sales will remain strong for the foreseeable future.\u201d<\/p>\n

GM\u2019s incentive spending as a percentage of average transaction prices was 12% in June,\u00a0equal to the company\u2019s 2016 calendar year average, and lower than any domestic and many Asian competitors, according to estimates by J.D. Power & Associates, while GM\u2019s average transaction price were $35,657, up nearly $400 per vehicle.<\/p>\n

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Normally a mainstay for Fiat Chrysler, Jeep brand sales were down in July.<\/figcaption><\/figure>\n

(New car sales expected to continue sliding.\u00a0<\/em>Click Here<\/a><\/span>\u00a0for the story.)<\/em><\/strong><\/p>\n

Ford Motor Co.\u2019s June U.S. sales declined by 5.1%\u00a0percent compared to last year. Retail results\u00a0were flat versus last year\u2019s retail results but fleet sales in June dropped 13.9%,\u00a0Ford reported. For the first six months of 2017, Ford sales were down 3.8%.<\/p>\n

Ford\u2019s June average transaction pricing grew\u00a0$1,800 another month of significant increase\u00a0compared to the overall industry gain of $520.<\/p>\n

Toyota Motor North America Inc., reported a sales increase 2.1% on both a volume and daily selling rate. For the first half of the year, TMNA reported sales declined 3.6% versus the same period in 2016.<\/p>\n

\u201cThe auto industry has cooled off compared to last year\u2019s record-breaking pace,\u201d said Jack Hollis, group vice president and general manager, Toyota division. \u201cIn the first half, however, Toyota held its No. 1 retail brand status, as we were able to outperform the industry, thanks to our incredible dealers gaining momentum in the second quarter, especially in light trucks and SUVs.<\/p>\n

\u201cWe aim to carry that momentum for a strong second half, as we lead the charge back into the midsize segment with the all-new Camry, and continue to benefit from improved inventory in our light trucks, including the new C-HR.\u201d<\/p>\n

(<\/em>Click\u00a0<\/span>Here<\/span><\/a>\u00a0for details about how used car sales will keep dealers afloat during new car downturn.)<\/em><\/strong><\/p>\n

Lexus posted June sales of 24,395 units, down 5.4% on a volume and DSR basis.<\/p>\n

American Honda reported an increase in sales of just under 1% for Honda and Acura models thanks to a strong showing by the Acura brand.<\/p>\n

Honda Division sales were down 1.3%. On the other hand, Acura Division sales gained 23.7% in June.<\/p>\n

Volkswagen of America Inc. reported a 15% increase over June 2016. For the year, VW sales are up 8.2 in year-over-year sales through the first half of 2017 as the maker continues to recover from the blow it took from its diesel scandal.\u00a0Audi of America reported a June sales increase of 5.3%. June was the 78th consecutive month of record sales for Audi of America and the third-best sales month in the brand\u2019s U.S. history.<\/p>\n

Nissan Group today announced a sales increase of 2%\u00a0over the prior year and a June record. Mazda sales were down 14.7% for the month and are down more than 8% for the first six months of the year.<\/p>\n

\u201cJune\u2019s sales number reaffirms that the U.S. vehicle sales cycle is in a post peak phase,” said Charlie Chesbrough, senior economist for Cox Automotive.<\/p>\n

(To see why most Americans can\u2019t\u00a0afford a new vehicle,\u00a0<\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/p>\n

“The U.S. economy remains strong \u2013 confidence is high, unemployment is low \u2013 and this will continue to support vehicle demand over the near-term. But higher interest rates and uncertainty around fiscal policies will slow economic growth, and may become headwinds for automotive sales. Cox Automotive expects 2017 light vehicle sales to finish near 17.1 million \u2013 down from last year\u2019s record, but still a robust market,\u201d\u00a0he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sales of new vehicles continued to sputter in June with General Motors, Fiat Chrysler and Ford reporting sales declines while foreign makers fared only marginally better with small losses. Get details at TheDetroitBureau.com.<\/p>\n","protected":false},"author":20009,"featured_media":115850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[8],"tags":[],"make":[],"post-state":[],"category_old":[151],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/117188"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/20009"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=117188"}],"version-history":[{"count":0,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/117188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/115850"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=117188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=117188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=117188"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=117188"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=117188"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=117188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}