Chicago (AFP) - Most automakers were battered in February as American consumers pulled back on new car purchases, a continued hangover from the brisk sales pace last year, according to data released Thursday.
The three American auto giants reported sales declines: 6.9 percent year-over-year for GM and Ford, and one percent for Fiat Chrysler's US subsidiary.
Most other major car makers in the US market saw sales drop last month, but Toyota bucked the trend with a 4.5 percent boost.
Total auto sales declined 2.4 percent compared to February 2017, but dropped 12.7 percent from January. The seasonally-adjusted annual sales pace dropped to 17.08 million units, compared to 17.45 million a year ago.
Analysts had predicted the slowdown, amid an increasing supply of lightly-used cars competing for consumers' spending, and rising interest rates. In addition, record sales in the past two years largely satisfied much of the pent-up demand for new vehicles left from the recession years.
Source : Yahoo
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