The Denver Post - - BUSINESS -

July saw the big­gest yearover-year de­cline in U.S. ve­hi­cle sales this year, leav­ing au­tomak­ers to hope con­sumers are wait­ing to pounce on La­bor Day deals.

U.S. sales of new cars and trucks fell 7 per­cent to 1.4 mil­lion in July, ac­cord­ing to Au­to­data Corp. It was the sev­enth straight month of lower sales, and the big­gest per­cent­age drop so far this year.

July is of­ten a slower month as buy­ers va­ca­tion and wait for deal­ers to of­fer model year clear­ance events in Au­gust and Septem­ber. This year, big cuts in sales to rental car fleets and com­mer­cial cus­tomers were also a fac­tor.

Gen­eral Mo­tors said its sales fell 15 per­cent in July, while Hyundai’s dropped 28 per­cent. Ford’s sales were down 7.5 per­cent. Fiat Chrysler’s sales de­clined 10 per­cent. Volk­swa­gen’s sales fell 5.8 per­cent, while Nis­san’s sales fell 3 per­cent. Honda’s sales were down 1.2 per­cent.

Two ma­jor au­tomak­ers bucked the trend. Toy­ota’s sales rose 3.6 per­cent, while Subaru’s were up 7 per­cent. — The As­so­ci­ated Press

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.