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Friday, November 04, 2016

U.S. auto sales seen off despite discounts, GM sales drop 6 percent

New car sales declined broadly in October, hurt by fewer selling days compared with a year earlier and by falling demand for passenger cars.

The nation's largest auto suppliers disclosed single-digit percentage declines from a year ago, fueled by a recent trend of weaker demand for sedans, coupes and other passenger vehicles.

A complete picture for the month wasn't available because some companies were still tallying results. Ford Motor Co. also delayed release of its sales due to a fire at its headquarters on Monday.

Among the top four sellers: General Motors Co. said its sales overall slipped 1.7% compared with the same time last year, a reflection of its moves to pare less profitable sales to fleet buyers like car rental customers. Fiat Chrysler Automobiles NV reported sales tumbled 10% in the month. Toyota Motor Corp. said its sales fell 8.7% with a sharper 17% decline in passenger car sales.



Anonymous said...

This always happens when a presidential election is close.

Anonymous said...

Prices are way too high. Unless you lease or finance for ten years or more, I can't see how anyone can afford a new car or truck. Last time I purchased a new car was 2003. Last car I purchased was used at a higher price than my 2003 pontiac vibe.