US auto sales expected to drop in August - Fx Report Daily
All the key players in Automakers industry were projected to report declines in August. Toyota sales fell 9 percent in August, Honda was down 7 percent, and Volkswagen vehicles were down 8 percent. The company led off the US automakers on Tuesday, after reporting a 2% growth in August. “Look, the combined entity can make US$30 billion a year in cash”, he said, by selling around 17 million vehicles a year. Last year, the company closed August with 173,000 units to store inventory as production halted due to factory retooling for aluminum changeover for factories. Half of the eight business analysts polled by Reuters anticipated a decline in FCA’s August gross sales, based mostly on a quirk within the calendar that put outcomes over the U. S. Labor Day vacation weekend into the September outcomes. Journey sales increased 2 percent, the mid-size crossover’s fifth sales record this year. Fiat Chrysler produces passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler , Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names. GM’s pickup trucks in particular helped the company’s August performance, with Chevrolet Silverado sales up 12 percent and the GMC Sierra up 7. Source: forexreportdaily.com
