Find a list of your saved stories here

Car sales seen lower in July; US automakers post sharp drops


Save Story

Save stories to read later


Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

DETROIT (AP) — U.S. sales of new cars and trucks were expected to show a decline in July as consumers pulled back on purchases and waited for Labor Day deals.

July likely marked the seventh straight month of declines in a peaking market. After an unprecedented seven years of growth, analysts are predicting lower U.S. sales this year.

General Motors said its sales fell 15 percent in July, while Ford's sales were down 7.5 percent. Fiat Chrysler's sales were down 10 percent.

Automakers are still seeing healthy profits thanks to consumers' preference for SUVs. Car-shopping site Edmunds.com said the average price paid for a new vehicle in July was $34,558, 2% higher than the same month a year ago.

GM said sales of its recently updated GMC Acadia SUV jumped 30 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast