by Even this shows deceleration since the oil capex collapse: Early preview, not looking good: U.S. July auto sales miss estimates as pent-up demand slackens By Bernie Woodall August 2 (Reuters) — DETROIT: Four major automakers in the U.S. market on Tuesday reported July vehicle sales slightly below expectations as the pent-up demand that has helped drive sales since 2009 plays itself out. In a continuing trend, consumers shunned passenger cars in favor of SUVs and pickup trucks. General Motors Co sales fell 2 percent to 267,258 vehicles, at the low end of analysts’ expectations. GM is No. 1 in U.S. auto sales. Ford Motor Co , No. 2 in U.S. auto sales, said its sales fell 3 percent in July at 216,479 vehicles, which was less than analysts had expected. GM and U.S.-traded shares of Fiat Chrysler dropped about 4 percent while Ford fell 3.4 percent. Ford last week became the first major auto manufacturer to predict an end to increasing annual sales since 2009, a forecast that many Wall Street analysts had been making for months. Fiat Chrysler Automobiles NV said its sales rose 0.3 percent.
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Even this shows deceleration since the oil capex collapse:
Early preview, not looking good:
U.S. July auto sales miss estimates as pent-up demand slackens
By Bernie Woodall
August 2 (Reuters) — DETROIT: Four major automakers in the U.S. market on Tuesday reported July vehicle sales slightly below expectations as the pent-up demand that has helped drive sales since 2009 plays itself out.
In a continuing trend, consumers shunned passenger cars in favor of SUVs and pickup trucks.
General Motors Co sales fell 2 percent to 267,258 vehicles, at the low end of analysts’ expectations. GM is No. 1 in U.S. auto sales.
Ford Motor Co , No. 2 in U.S. auto sales, said its sales fell 3 percent in July at 216,479 vehicles, which was less than analysts had expected.
GM and U.S.-traded shares of Fiat Chrysler dropped about 4 percent while Ford fell 3.4 percent.
Ford last week became the first major auto manufacturer to predict an end to increasing annual sales since 2009, a forecast that many Wall Street analysts had been making for months.
Fiat Chrysler Automobiles NV said its sales rose 0.3 percent.