March US auto sales fell
According to data compiled by Auto Data, US auto sales (VCR) in March 2017 were 1.55 million units. That was about 1.6% below the 1.58 million units sold in March 2016. In February 2017, US auto sales were 1.3 million.
What’s hurting US auto sales?
In March, small car sales fell 10.6%, while truck and utility vehicle sales rose 5.2%. Weakening small car sales were thus the primary reason for the overall lower US auto sales in March.
In the first quarter of 2017, US auto sales were 4.0 million vehicle units, a fall of 1.5% on a year-over-year basis. However, as of April 10, 2017, Tesla stock has risen more than 46.0%. To find out more, be sure to read the final part of this series and another article, Tesla Stock: What to Expect after Early April Rally.
The United States is the largest auto market in North America and the second largest in the world after China. Mainstream automakers, including General Motors (GM), Ford (F), and Fiat Chrysler Automobiles (FCAU), are highly dependent on the US market since the largest portions of their revenues come from the United States.
Auto sales are considered a leading indicator of a country’s economy. So a slowdown in auto sales typically indicates diminishing economic sentiment.
In this series, we’ll be taking a closer look at US auto sales data for March 2017. We’ll look at US sales figures for mainstream automakers such as Ford, General Motors, Fiat Chrysler, Toyota, and Honda. We’ll also see what those figures could mean for auto investors going forward.
Let’s move on to the next part to look at Ford’s March 2017 US sales data.