August was the first tough month for U.S. new vehicle sales that automakers have faced in some time with sales falling 3.5% compared to the year ago results.
General Motors, Ford, Toyota and Nissan all took hits of more than 5% on the month. Honda sales were down 3.8% for August, but the Japanese maker was expected to post an increase of 2.5% by most estimates.
As usual, utility vehicles and trucks sold in big numbers – with the F-150, Chevy Silverado and GMC Sierra being notable exceptions – for automakers while passenger cars continued their long slide out of favor with the buying public. (more…)