Auto sales ended the summer with a whimper, and even pickup trucks got stuck in the mud.
As reported by FOX Business, analysts have warned that sales are nearing their peak after six consecutive years of growth. Last year, the industry sold an annual record of 17.5 million vehicles. Now, much of the pent-up demand that carried automakers in recent years has waned, leading to softer consumer demand this summer. Forecasts say the industry could still post another annual record this year, albeit with slower growth compared to 2015.
In August, the top automakers in the U.S. largely met expectations for a decline in overall sales. General Motors, Ford and Fiat Chrysler Automobiles each saw that trend hit the popular truck segment.
Ford’s F-Series lineup, the best-selling nameplate in the U.S., dropped 6.1% to 66,946 units sold during the month. GM sold 52,408 Silverado trucks, a 4.7% decline, while the GMC Sierra was down 17.7% at 17,478 units. Fiat Chrysler’s Ram trucks held steady, as sales moved only slightly lower to 40,202 trucks.
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