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Many major car manufacturers see sales decline in the US in March.
Issued by AFP 04/03/2017 Modified 03/04/2017 18 00.
The automaker Ford US sales reported 2 fell 7 percent in March 2017 compared to the previous year GETTY IMAGES NORTH AMERICA AFP File.
Many car manufacturers have had a difficult month in March, posting significant sales declines in the United States, defying expectations for an increase over the same month last year.
In the last month of the first quarter, many brands reported Monday sales dropped compared to March 2016, when the industry was seeing record profits.
Forecasters have predicted robust sales last month, and he did not know if the industry would live up to those expectations once sales reports were recorded for all automakers.
But the news was not good for some of the biggest players.
Ford reported sales fell 7 percent 2 worse than expected, while Toyota's sales fell 2 1 percent, compared to the same month last year.
CAF USA, the American arm of Fiat Chrysler continued to struggle, posting a decline of five percent in March over the first three months of the year, sales of CAF decreased eight percent.
record truck and SUV sales could not help American Honda notch an overall increase last month, total sales were down 7 0 percent when accounting declines in its luxury brand Acura.
In contrast, GM and Nissan saw gains of 3 percent and 2 1 6 percent, respectively, for the Americans helped a high demand for light trucks and sport utility vehicles, and bigger discounts.
The many automakers disappointing figures were contrary to expectations of an increase in sales across the industry two percent year-over-year, according to Edmunds auto data firm.
But Jessica Caldwell Edmunds analyst sounded a cautionary tone, saying that there were several areas of concern for the industry.
Stocks have reached unprecedented levels in over a decade, and incentives are increasing, Caldwell said, referring to discounts and other incentives to consumers.
We're also seeing an increase in loan terms and indications of an increase in subprime mortgages, which show sales aren t come as easily as they used to, she said.
But while Toyota echoed that tone edifying, saying overall sales rate of the industry may be down, GM remains optimistic.
More people working, consumer confidence is at a high of 16, fuel prices are low, Kurt McNeil, head of the US sales of GM, said in a statement.
GM's total sales increased by 0 9 percent in the first quarter, helped by a jump of 10 percent 4 of the demand for GMC trucks.
We see more growth ahead for our brands, said McNeil.
stock movements after the monthly sales reshuffled the ranking of US companies, with Tesla Motors to overtake Ford in second place and close the gap with GM, the largest US automaker by market value.
Nearly 1530 GMT, Tesla shares rose 5 percent in 3292 to 25 a market capitalization of 47 7 billion after reporting a jump of 69 percent of sales in the quarter ended in March.
Ford, which saw shares fall 3 0 percent, has a market capitalization of 44 9 billion GM fell 4 0 percent and a market capitalization of 50 9 billion.
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