August 2017 US auto sales
According to the latest data compiled by Autodata, US auto sales (XLY) in August 2017 were 1.48 million vehicle units. That was about 1.9% lower than 1.51 million vehicle units sold in August 2016. On the positive side, total US auto sales in August were higher than 1.41 million vehicle units sold in July 2017.
Truck sales strengthened
In August 2017, US small car sales continued to disappoint and fell sharply 8.5% YoY (year-over-year) to 0.54 million units. In contrast, truck and UV (utility vehicle) sales rose to 0.93 million units with a handsome rise of 2.4% on a YoY basis. August US auto sales were partly affected by Hurricane Harvey in Texas.
In the last few years, US truck and UV sales have risen more than small car sales. Despite weak small car sales, stronger August truck sales could keep optimism alive among auto investors.
So far in 2017, US auto sales have fallen 2.7% YoY to 11.4 million vehicle units.
The United States is the largest auto market in the North American region. It’s the second-largest market in the world after China. Mainstream automakers Ford (F), Toyota Motor (TM), General Motors (GM), and Fiat Chrysler Automobiles (FCAU) generate a large portion of their revenues from the United States.
In this series, we’ll explore August 2017 US sales figures for US automakers. We’ll see what these sales numbers could mean for these companies’ future growth prospects. We’ll also see what Wall Street analysts are recommending for these US automakers’ stocks now that August sales data have been released.
In the next part, we’ll begin by looking at Ford’s August 2017 US sales data.