US: Car sales fall in September

ChiragM · 4th October 2019, 09:44

According to media reports, car sales have fallen sharply in September.

Reports suggest that Toyota sales have fallen by 16.5% to 169,656 vehicles, while Hyundai sales have fallen 9% to 51,951 units. Sales of Nissan cars also fell by 17.6% to 101,244 vehicles. Honda is also said to have posted a double digit decline in sales, while Fiat Chrysler and General Motors reported a 10% decline. Ford has reported a 12% decline in sales. Analysts had predicted a 12% fall in overall sales.

The early timing of the Labour Day weekend is said to have caused a decline in sales figures as the holiday weekend bookings were taken in August. Interest rates on finance deals fell to 5.5% in the latest quarter. Incentives worth more than US$ 4,100 were offered to car buyers.

In the third quarter, Toyota sales fell by 1.2% to 6,27,194 vehicles, while Nissan sales fell by 5% to 3,27,354. In contrast, Hyundai sales increased by 5% to 1,73,028 vehicles.

Link to Team-BHP News

Source: Reuters

GTO · 7th October 2019, 10:51

Not just the USA, things are starting to get sluggish in China too. Some of the macro-level trends affecting car sales in India (youngsters not buying cars, slowing economy, app-based taxis, us holding onto cars for longer) are actually not India-specific problems at all.

I think we are past "peak car", at least for another couple of years.

4th October 2019, 09:44	#1
ChiragM Senior - BHPian Join Date: Apr 2018 Location: Bangalore Posts: 1,557 Thanked: 17,395 Times	US: Car sales fall in September According to media reports, car sales have fallen sharply in September. Reports suggest that Toyota sales have fallen by 16.5% to 169,656 vehicles, while Hyundai sales have fallen 9% to 51,951 units. Sales of Nissan cars also fell by 17.6% to 101,244 vehicles. Honda is also said to have posted a double digit decline in sales, while Fiat Chrysler and General Motors reported a 10% decline. Ford has reported a 12% decline in sales. Analysts had predicted a 12% fall in overall sales. The early timing of the Labour Day weekend is said to have caused a decline in sales figures as the holiday weekend bookings were taken in August. Interest rates on finance deals fell to 5.5% in the latest quarter. Incentives worth more than US$ 4,100 were offered to car buyers. In the third quarter, Toyota sales fell by 1.2% to 6,27,194 vehicles, while Nissan sales fell by 5% to 3,27,354. In contrast, Hyundai sales increased by 5% to 1,73,028 vehicles. Link to Team-BHP News Source: Reuters Last edited by ChiragM : 4th October 2019 at 09:46.
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7th October 2019, 10:51	#2
GTO Team-BHP Support Join Date: Feb 2004 Location: Bombay Posts: 71,146 Thanked: 305,540 Times View My Garage	Re: US: Car sales fall in September Not just the USA, things are starting to get sluggish in China too. Some of the macro-level trends affecting car sales in India (youngsters not buying cars, slowing economy, app-based taxis, us holding onto cars for longer) are actually not India-specific problems at all. I think we are past "peak car", at least for another couple of years.
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