CHICAGO: Buoyed by robust demand from US consumers for crossover SUVs and trucks, automakers reported strong June sales in those categories Friday, while overall sales figures pointed to a cooling market.
Nissan, Ford, Fiat Chrysler’s US unit, Subaru and Honda all reported sales increases. General Motors, Toyota and Volkswagen fell short.
The drop in sales at GM and Toyota — the two biggest automakers in the US market — suggested a slowdown in growth.
Total US auto sales rose 2.5 percent in June from a year ago, according to industry research firm Autodata. The June sales pace was at a seasonally adjusted annual rate of 16.66 million units, down 2.0 percent from a year ago and 1.4 percent from May.
“We have been expecting a retracement in vehicle sales this year and view (16 million to 17 million) as a reasonable sustainable pace,” Barclay’s automotive analyst Michael Gapen told AFP.
Michelle Krebs of Autotrader told AFP that she expected another record year in 2016, but one that indicates slowing growth.
“We think this year we may see some bumps along the way in the second half, but we still think we will eke out a record. But, next year is questionable,” said Krebs, who predicted 2016 sales of 17.5 million to 18 million vehicles.
