Major carmakers are on Monday releasing their US auto sales
data for June.
Economists forecast that total vehicle sales rose at a seasonally
adjusted annual rate of 16.58 million, according to Bloomberg.
That’s little changed from May. Auto sales have slowed this
year following seven straight years of record-setting volumes.
And this suggests that the market has plateaued for
Here are the latest numbers (expectations via Bloomberg):
- Toyota: 2.1% (1.2% expected)
- Nissan: 2% (-2% expected)
- Ford: -5% (-6% expected)
- Mazda North America: -14.7%
- GM: –4.7% (-3.4% expected)
- Fiat Chrysler: -7.4% (-7.9% expected)
GM, the second-largest US carmaker by market cap, hinted at
that last week when it
cut its outlook for new vehicle sales. The carmaker said US
sales would be in the “low 17 million” unit, reflecting a
widespread expectation that the industry’s growth would
Among the so-called Big Three, which include Fiat Chrysler and
Ford, GM was the only carmaker that reported weaker-than-expected
sales in June.
A bigger question is whether the slowdown in car sales
suggests a problem with consumer spending. “Consumer
fundamentals have remained healthy, coupled with strong job
gains and steady income growth,” said Lewis Alexander, the US
chief economist at Nomura, in a note. “However, it is likely that
tighter auto loan standards will continue to weigh on auto
sales in the coming months.”