This page is intended for non-public and non-commercial use. You can request copies in a position for the presentation to be distributed to your colleagues, consumers or consumers, by visiting http://www. autobloglicensing. com
The US auto industry fell back in August. Manufacturers that still announce their sales figures at the end of each month have reported declines almost everywhere. According to industry analysts, transaction costs also fell in August compared to July, despite an accumulation of nearly 4% over last year’s average. There were two fewer selling days in August this year, which contributed to the reported declines.
Toyota announced Tuesday a 23% drop in sales of new vehicles in the US. But it’s not the first time In August compared to the same month of 2019, due to a two-month shutdown of industry-wide car production in the spring to stop the spread of COVID-19, as well as a dubious economic recovery, they released sales. It’s the fifth consecutive month of a drop in U. S. Toyota sales.
South Korean automaker Hyundai said its U. S. sales fell by 8. 4 percent in August, largely due to minimizing fleet sales to auto rental companies, government agencies and businesses. Hyundai recorded a slight increase in sales in July. The SUVs accounted for two-thirds of Hyundai’s total. volume in August, the company said, indicating additional amplification of existing sales trends. Luxury subsidiary Genesis recorded a minimum of 22. 6% for august
Toyota and Hyundai’s declines were too giant to be explained only through minimization in the total number of sales days in August. the number of days the dealers were open.
Even Subaru, which has been developing for years, is immune. Sales from all-wheel drive manufacturers fell by 17. 4% since last August and overall sales of the year fell by 20. 5%.
Transaction costs also fell compared to July, but remain at 3. 9% compared to the same time in 2019.
“Vehicles continue to sell at transaction costs higher than last year, even in the midst of the pandemic,” said Eric Lyman, industry-leading analyst at TrueCar ALG’s subsidiary. to the decline in the richest incentives of automakers that were on the market at the beginning of the pandemic. Consumers have relied on these donations to transfer to more expensive versions and models, which has raised transaction costs.
“For the time being since March, automakers’ revenue from new vehicle sales will accrue by approximately six cents from month to month. This is a positive signal to the automotive industry, as spending on specific incentives through automakers continues to increase. boost the resumption of new vehicle sales,” Lyman added.
(This article reports Reuters).
News, reviews, photos, videos sent to your inbox.
More information
We understand that. Ads can be annoying. But ads are also the way we keep garage doors open and lighting fixtures lit here at Autoblog, and we keep our stories loose for you and everyone. And loose is good, isn’t it? If you have enough type to whitelist us, we promise to continue offering you the right content. Thanks for that. And thank you for reading Autoblog.
You haven’t disabled your ad blocker yet or whitelisted ours. It’ll only take a few seconds.