For the first time in many years, August sales in the US were lower when compared to the same month in 2015, dropping 3.5 percent year over year and prompting experts to call out the peak.
General Motors, Ford, Toyota and Nissan were among the largest losers with sales dropping more than 5 percent, and even those expected to come up with surges being in the negative area – such as Honda. There are bright sides to the picture – large SUVs and pickup trucks continued to post very strong results. There were also niched automakers enjoying a healthy growth nonetheless. For example Subaru surged 14.7 percent, Audi grew 2.5 percent and others had incredible results (due to very low numbers) – like Jaguar’s jump of 188.5 percent or Volvo’s surge of 31 percent.
Some of the experts are painting a bleak – the peak has passed, we’re falling now – picture while others are more optimistic. “While August volume results may be disappointing for several automakers, the fundamentals for a healthy industry remain,” commented Stephanie Brinley, senior analyst, from IHS. “After several years of strong gains, growth is stabilizing.” The general consensus is the market is now stabilizing, and the months to come will bring healthy gains once more, especially as people come back from vacations and look for the big purchase once more.
Via Detroit Bureau