2016 US Car Sales Slump Into The Summer
Fewer Americans hitting the road this summer will be driving a brand new car, as May US auto sales skidded 6 percent. With sluggishness in the sedan segment, even a 9 percent increase for the F150 pick-up couldn’t cover a 6 percent overall decline for Ford.
General Motors was hit hardest with an 18 percent drop despite continued brisk sales of full sized SUVs. Sales soft spots like the previously top selling Chevrolet Cruze compact sedan dropping 30 percent in May, is a foreboding sign for a company relying on lower volume, higher profit big vehicles to stay in the black.
FCA bucked the downward trend with a modest 1 percent gain, again mostly on the strength of the Jeep brand. And despite stronger 2016 sales to date, even the RAM pickup series took a 3 percent hit in May.
Japanese carmakers Toyota, Honda and Nissan saw 9.6, 4.8 and 1.1 percent sales declines respectively.
Significantly Hyundai led the mainstream vehicle market with a 12 percent jump powered by a one two punch of its new Tucson and Sante Fe SUV line-up.