Results from Motor Intelligence returned the following for the nation’s top three automakers:
From the Wall Street Journal:
Sales for the top three auto makers selling in the U.S. slipped in July, reinforcing the view that the light-vehicle market has plateaued after six consecutive annual volume increases.
Declines at General Motors Co., Ford Motor and Toyota Motor Corp. overshadow increases by smaller players; including Nissan Motor Co. and Honda Motor Co. The sustained run of sales gains in the U.S. since the financial crisis has allowed most auto makers to limit reliance on discounts and keep inventories lean, padding profits generated by increased demand for trucks and sport-utility vehicles.
…The auto industry’s recovery has been a bright spot for the U.S. economy, with high factory utilization spurring new jobs, investment in American facilities and wage growth for Detroit’s auto workers. Car buyers spent $49 billion on light vehicles in July, according to TrueCar Inc., up 1% amid longer loan terms and a boom in subsidized auto leases—trends that keep monthly payments on par with a decade ago even as sticker prices go up.
…Overall retail sales are a trouble spot as purchases made by individual customers in showrooms have stalled this year, down slightly for the first seven months, according to JD Power. Auto makers are betting sales to government agencies, rental-car firm and commercial fleets will continue to grow.
…July’s results follow the sober view Ford executives gave last week when reporting second quarter earnings.
This is certainly a flattening trend from last year’s high, but I would tend to agree with the article’s assessment (quote), “this isn’t doomsday.” In other words, slowing, flattening and even headwinds is not the same thing as a crash, but in our projections for the coming year, we should at least take note and plan accordingly.