US auto sales expected to drop in August - Hastings Tribune
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. 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 largest car market. 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. All major automakers released U. S. sales figures Tuesday, and reports were mixed. Analysts expect sales of new cars and trucks to decline slightly from last August, 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. sales remain on pace to top 17 million this year for the first time since 2001. Low interest rates, low gas prices, high consumer confidence and enticing new small SUVs like the Jeep Renegade and Honda HR-V are drawing buyers to dealerships... For August, Ford reported a 5-percent gain as sales of its new F-150 gained steam, and Fiat Chrysler's sales rose 2 percent thanks to strong demand for Jeep SUVs. Source: www.hastingstribune.com
