U.S. Auto Market Remains Bright Spot as China Pulls Back - DailyFinance
China is still the No. 1 market, but sales there are slowing as the economy cools and cities impose car ownership limits to curb smog and congestion. At the same time, U. S. sales remain on pace to top 17 million this year for the first time since 2001. It's a reversal from six years ago, when U. S. vehicle sales plunged during the recession and China easily surpassed the U. S. as the world's... At least temporarily, automakers are left to rely on the U. S. -- and a recovering Western Europe auto market -- for sales growth. Sales figures for August released Tuesday by Sweden's Volvo Cars tell the story: Volvo's U. S. vehicle sales jumped 18. 3 percent as the new XC90 SUV went on sale, and they rose 6. 5 percent in Europe. But its sales in China plunged 10 percent. Total sales fell less than 1 percent to 1. 58 million, but primarily because sales for a late-arriving Labor Day weekend will be included in September figures. Labor Day is typically a big sales weekend as dealers hold model year-end clearance sales. For August, Ford ( F ) reported a 5 percent gain as sales of its new F-150 gained steam, and Fiat Chrysler's ( FCAU ) sales rose 2 percent thanks to strong demand for Jeep SUVs. Source: www.dailyfinance.com
