(August 2, 2018) U.S. light-vehicle sales fell an estimated 3.7 percent in July as the auto industry slumped going into the second half of a year projected to be weaker than the robust first six months. Ford, Nissan, Honda, Toyota, General Motors and Hyundai-Kia all reported declining sales.
The seasonally adjusted, annualized rate of sales for July fell to 16.73 million, in line with the 16.7 million rate forecast by analysts polled by Bloomberg. It is the weakest SAAR reading since August 2017’s revised 16.58 million rate, when Hurricane Harvey disrupted sales.