Ford posted a wider US sales decline than analysts projected as demand for both passenger cars and trucks fell. The second-largest US car-maker said on Tuesday that car and light-truck deliveries fell 7.1% last month, trailing analysts’ average estimate for a 4.7% drop. Sales of F-Series pick-ups slipped 0.2%, while passenger car volume plunged 21%. Higher vehicle prices may be contributing to the slow-down in US sales. The average new-car price in the US rose about 2% over the past year, according to data from TrueCar’s ALG. That’s an increase more consumers may have been able to handle when borrowing costs were low and loose credit made pricier trucks and sport utility vehicles more attainable. The annualised pace of US vehicle sales, adjusted for seasonal trends, probably slowed in April to about 17.1-million, from 17.4-million a year earlier. Analysts had projected Fiat Chrysler and Honda would report the biggest sales declines, with both reporting decreases of more than 5%.
...Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.