Sales Head South – Car Sales Lag
Consumers continued their love affair with trucks, crossovers and SUV’s last month, but cars, you know those four door former darlings, generally did little but eat up space on dealer lots.
Overall sales fell 1.6 percent in March, the third monthly decline in a row. as car sales tanked to the tune of 11 percent. But industry execs were quick to point out that sales of trucks, SUV’s, and Crossover rose nearly 5.2 percent.
What all this means is if you walked into most dealerships and inquired about buying a car they might kiss your toes and kick in a free cup of coffee.
Ford sales were off 7.2 percent overall, Fiat Chrysler saw a 4.6 percent fall, while GM posted a 1.5 percent increase.
Here the theme continued. Ford sold a lot of F-150 pickups but car sales slumped 24.2 percent. At GM, Cadillac, Impala and Malibu demand was down but truck heavy GMC saw a 12 percent sales gain.
A bit different story at FCA, where Jeep sales were off but Dodge sales rose just shy of 10 percent. Ram trucks remained in demand, up 6 percent.
Toyota down 2.1 percent
Nissan up 3.2 percent
VW up 2.6 percent
Hyundai down 8 percent
Mazda up 4.9 percent
Porsche up 3.6 percent
Subaru up 11.3 percent
Volvo down 21.9 percent
It is a certainty that many auto makers will have to step up incentives still further as car sales continue to lag. It is worth noting that Subaru posted record March sales and its 64th consecutive month-over-month sales gain led by the Outback, Forester and WRX. So somebody is selling cars.
The New York Times reports that Tesla has now moved past Ford for second place in terms of stock market value. Ford dropped to third position among investors and the Times said Tesla is now within striking distance of Number One GM.
Mercedes parent company, Daimler is joining forces with Bosch to “advance the development of fully automated and driverless driving.” They have signed a development agreement to bring fully automated driving to urban roads by the beginning of the next decade. The two firms said, “The car comes to the driver.”
The “Fast Lane Truck” has given the 2017 Ram 3500 its Gold Hitch award for the heavy-duty segment. The 6.7-liter Cummins diesel-powered Ram 3500 Heavy Duty took top honors for outstanding pulling power, braking, fuel economy, comfort and handling under extreme towing conditions.