December 23, 2024

Market downturn! US new car sales in February fell 2.3% year-on-year


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According to the "American Auto News" report, light vehicle sales in the United States fell 2.3% in February from a year earlier. The seasonally adjusted annualized sales rate reached 17.12 million vehicles, which was lower than that in January, but it was still the highest level of 17 million for the sixth consecutive month. From January to February, cumulative sales decreased by 0.7% year-on-year.

Ford and General Motors fell about 7%, while the US Honda and Nissan fell 5% and 4.3%, respectively. FCA’s decline in the United States was the lowest in nearly 9 months, at 1.4%. Toyota Motor and Volkswagen brands have maintained growth for two consecutive months.

Since 2010, light vehicle sales in the United States have increased for seven years in a row, but in the past 12 months, sales have only increased in three months, and in January 2018, the increase was only 1.2%. Sales of GM and FCA pickup trucks fell sharply last month. At the same time, the prices of automobile transactions in the United States continued to grow, and the rate of subsidies for various forms was also slow.

Comparison of car sales

GM's sales in the US market declined by 6.9% in February, and its wholesale sales increased by 7%, mainly due to a 15% increase in commercial orders. However, its retail sales volume showed a remarkable performance decline of 10% over the same period last year. Sales of Chevrolet and GMC fell 8.8% and 8%, respectively, while Buick and Cadillac were 1.2% and 14%, respectively. The market demand for cross-border vehicles in the United States remains strong, but sales of generic cross-border vehicles have fallen by 16%. The GM large-scale pickups Chevrolet Silverado and GMC Sierra have fallen by 16% or even higher.

Ford Motor's overall sales in the US market fell 6.8% last month, with retail sales and wholesale sales falling 8.5% and 3.8% respectively. Ford brand and Lincoln brand fell 6.1% and 23%, respectively. In addition, Ford’s sales of its cars and SUVs performed satisfactorily, but the demand for pickups grew significantly.

FCA USA continued to reduce its wholesale sales, and its sales in the United States have also kept sales down for 18 consecutive months. In addition to the Jeep and Alfa Romeo, FCA's sales fell. FCA's wholesale sales decreased by 3% year-on-year. Jeep's delivery increased by 12%, which is also the second consecutive month that it has maintained growth after a consecutive 16-month decline. Sales of the Chrysler brand dropped by 3.5%, Dodge reached 8.4%, and Ram and Fiat dropped by 14% and 42%, respectively.

Nissan’s sales fell 4.3% in February, with the declines of the Nissan and Infiniti brands reaching 4% and 6.7% respectively. In other car companies, Subaru's sales rose by 3.8% last month, while Mazda, Volkswagen and Mitsubishi's sales rose by 13%, 6% and 19%, respectively.

In terms of luxury brands, Volvo’s sales volume increased by 35% year-on-year, while BMW and Audi’s sales increased by 4.2% and 12%, respectively, and Porsche and Land Rover increased by 21% and 19% respectively. Jaguar performed well last month, showing a 37% decline, while the modern company's Jieensi brand dropped by 14%.

Overall, US car sales are expected to fall below 17 million vehicles for the first time in nearly three years. Analysts expect that in 2018, US car sales are expected to be between 16.7 million and 16.9 million.

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