Ford is falling after a lacklustre sales report

July sales: GM down 15%, FCA down 10%, Ford down 7.5%

General Motors and Fiat Chrysler posted steeper USA light vehicle sales declines than analysts estimated in July as industrywide demand continues to slide from last year's record results.

"Driven by our enormous success with our crossover portfolio, it is like we have sold an extra months' worth of retail sales so far this year", John Roth, vice president of sales, service and marketing at GM Canada said in a statement.

Ford's sales were down 7.5 percent, Fiat Chrysler's declined 10 percent, Volkswagen's fell 5.8 percent, Nissan's fell 3 percent and Honda's were down 1.2 percent.

One bright spot for all the automakers: auto shopping site Edmunds.com reports the average price paid for a new vehicle in July rose two percent to $34,558.

Ford's fleet sales - the sales of vehicles to rental auto firms, corporations, government agencies, and utility companies - were down 26.4% in the second quarter of 2017. Sales of those profitable workhorses slipped only 0.8 percent compared with double-digit declines for compact and mid-sized cars, according to estimates from Kelley Blue Book. With more flexible labor agreements, the Detroit automakers have shifted course. Fiat Chrysler has killed several models it once sold to fleets.

Ford's sales excluding heavy trucks declined 7.4 percent, as passenger-car deliveries dropped 19 percent.

Declining sales could leave the Detroit Three with too many plants in North America, Jeff Schuster, a forecaster with LMC Automotive, said on Tuesday at an industry conference in Traverse City, Mich. The carmaker had a supply of 104 days as of July 31, which was down from its end of June mark of 105 days. Ford shares were down three percent, and Fiat Chrysler was down 0.025 percent. Fiat Chrysler's sales were down 10 percent. Average interest rates on new-vehicle loans fell to a six-month low of 4.77 percent in July as more brands offered no-interest financing, Edmunds said.

Related News:

  • A's push back Gray's next start until after trade deadline

    A's push back Gray's next start until after trade deadline

    He was scratched from his last start in advance of the trade and is expected to report to the Twins' Double-A Chattanooga. Did the Twins get more for Garcia than they gave up? The home run by Davis capped off what was a four-hit day for him.
    Seven injured after vehicle  mows down pedestrians in Los Angeles

    Seven injured after vehicle mows down pedestrians in Los Angeles

    She went to help a man who was bleeding from his head, removing the pieces of patio furniture and fencing off his body. The victims are being transported to a local hospital and one person is listed in critical condition, KTLA reported .
    Gary Woodland flirts with course record, settles for 63 at Canadian Open

    Gary Woodland flirts with course record, settles for 63 at Canadian Open

    On Sunday, a controversial vote called by President Nicolas Maduro to put more power into his hands will take place. One source suggested The Greenbrier Classic, now played in early July three weeks after the U.S.
  • Pentagon still awaiting WH direction on transgender policy change

    Pentagon still awaiting WH direction on transgender policy change

    Many of them were encouraged to begin the process of coming out by the previous administration, and now Trump is firing them. Trump's stated goal is to prevent disorder among the ranks. "It's unjust and disruptive to strip that away from them now".
    The LG V30 Reportedly Sports an f/1.6 Aperture Camera Lens

    The LG V30 Reportedly Sports an f/1.6 Aperture Camera Lens

    The smartphone will sport a FullVision Display with an aspect ratio of 18:9, something similar to LG G6's display. Coming to the rear, the dual camera setup is mounted horizontally, with the flash and related sensors aside.
    Girl gets sexually assaulted twice in one day, by two different men

    Girl gets sexually assaulted twice in one day, by two different men

    Police in the United Kingdom say they've arrested two men after a 14-year-old girl was raped twice on the same night. He sported a larger build and had a very tightly-kept beard, as well as a blue jumper and black jeans on.
  • Microsoft's new payment plan makes Surface devices more affordable

    Microsoft's new payment plan makes Surface devices more affordable

    The Surface Plus and Surface for Plus for Business are available for USA customers and businesses online and in-store. Microsoft's Surface Plus program will let you pay for the device in installments and upgrade after 18 months.

    Virat Kohli yet to be tested as captain, says Sourav Ganguly

    Then, in the sixth over of Sri Lanka's innings, Danushka Gunathilaka fell to a loose shot for the second time on Test debut. The right-hander, who resumed the day on 76, remained unbeaten on 103. "The surface didn't offer much".
    Russian Federation  boots USA  diplomats in retaliation for new sanctions

    Russian Federation boots USA diplomats in retaliation for new sanctions

    If the damage inflicted by "attempts to pressure Russia" rises further, "we are able to look at other forms of retaliation". It also said it would seize a Moscow compound used by U.S. diplomats as well as a United States diplomatic warehouse.
  • Boy Scouts: Trump lied - we didn't call to praise his speech

    Boy Scouts: Trump lied - we didn't call to praise his speech

    Maybe someone pretending to be with the Boy Scouts called Trump to tell him how awesome he is, and he was fooled by a prank. I thought it was an interesting speech in the context of the Boy Scouts.
    Police, in Riot Gear and on Horseback, Charge Down London Street

    Police, in Riot Gear and on Horseback, Charge Down London Street

    Ms Abbott referred to the "understandable anger" of people in Mr Charles's community but said demonstrations "must be peaceful". Scotland Yard said after entering the shop, Mr Charles was seen "trying to swallow an object" and was then taken ill.
    United States Steel Corporation

    United States Steel Corporation

    Louisiana State Employees Retirement System increased its position in AK Steel Holding Corporation by 1.9% in the first quarter. Municipal Employees Retirement System of MI boosted its position in AK Steel Holding Corporation by 3.9% in the second quarter.


Most liked

Google Play Services crosses five billion downloads mark globally
Google is courting developers to build high-quality products which could solve problems in India. Google Play Services hit a new milestone.

EC provides NOTA option to MLAs in Rajya Sabha elections, Opposition protests
In this no-holds-barred electoral war, the electoral Darwinism of Narendra Modi and Amit Shah is proving to be invincible so far. The Election Commission has said that the Nota provision was granted as per a previous Supreme Court order, DNA reported.

Two days in Phoenix, two babies dead in hot cars
The one-year-old female was left in the vehicle for about two hours, according to initial reports from Phoenix Fire Department. Police also said the baby was unresponsive when the father reached the church, meaning the baby was left in the auto to this.

Kingfisher plc's (KGF) Buy Rating Reiterated at HSBC Holdings plc
Another trade for 30,000 shares valued at $3.68 million was made by ROBO JAMES L on Thursday, February 2. Bourgeon Capital Ltd Liability Corporation has invested 0.43% in General Electric Company (NYSE:GE).

More contract extensions may be coming for Vikings defenders
Zimmer has built a once-mediocre defense into an elite unit, which makes it vital that they retain as many players as possible. This is another strategic plan that we put in place this offseason, knowing how many young guys we want to keep.

486 suspects on trial in key case of failed Turkish coup
A total of 461 suspects jailed pending trial were brought to the courthouse, handcuffed and each flanked by two gendarme officers. The trial centres around the Akinci air base which, the government alleges, was the plotters' headquarters.

Body Believed to be Missing Swimmer's Washes Up on Local Beach
The 19-year-old from Springfield Gardens went in the water Sunday evening with his friends, while lifeguards were not on duty. The Coast Guard launched a 45-foot Response Boat Medium boat crew and a 29-foot Response Boat Small to search for the man.

Christie confronts heckler at baseball game
He told Joseph to "have another beer", which Joseph said he found amusing and "a decent comeback", though he wasn't drinking. July 31, 2017New Jersey governor Chris Christie make headlines at a baseball game again, taking his show to Wrigley Field.

Danilo Gallinari Injured Hand After Punching Dutch Center
For Gallinari to take a swing at someone on the opposing team shows progress for the Clippers . The incident happened when the two players were lined up for a free throw.

Pakistan's Supreme Court sacks PM Sharif
He had not openly defended his uncle ( Nawaz Sharif ) in the Panama Papers case, choosing not to comment too much on the issue. Amid political upheaval, Pakistan's military stands as the most stable institution in the country.

Police Across The Country Slam Trump's Aggressive Law-And-Order Speech
I think he is doing our nation a disservice by encouraging police departments to engage in unlawful, unconstitutional behaviour. The president suggested that officers should hit suspects' heads on the doors of their police cars.

Tottenham youngster Marcus Edwards signs new contract
Fans showed they are disappointed with the situation. We have a very clear idea of what we want. For us we we are a little bit behind.

Chelsea must avoid a 'Jose Mourinho season', says Antonio Conte
Given the current madness of the transfer window, there is every possibility that Spurs may receive a tempting offer for Kane. It's simple", Conte reiterated. " Tottenham is a really good squad if they are able to keep all the players ", Conte said .

Hellblade: Senua's Sacrifice Official Trailer Released
The trailer doesn't show off any gameplay footage, but the CGI cutscenes and imagery are pretty gorgeous. The developer announced PlayStation 4 Pro support for Hellblade: Senua's Sacrifice .

Iran, US Navies Engage in Second Encounter in One Week
On Friday, the US imposed new sanctions on Iran , targeting six Iranian subsidiaries of the Shahid Hemmat Industrial Group. The aircraft carrier was accompanied by cruiser.