U.S. new vehicle sales fell the first time since April in October 0.8% to 16.21M SAAR missing consensus 16.50Me. Sales fell most in the light truck segment, sales of passenger vehicles held up. Car earnings give us insight into consumer trends.
Ford’s Chinese joint venture with Changan Automobile; Changan Ford Automobile Co. was reportedly fined 162.8 million yuan ($23.6 million) by the State Administration for Market Regulation for restricting resale prices.
Auto and auto parts companies impact U.S. economic growth which is a debt led consumer economy. With spiralling auto debt it affects the whole finance pyramid. The U.S. auto industry helps drive industrial production, service and finance industries and insight into consumer trends.
Auto sales continued to fall in February as U.S. car makers sales continued to fall with the impact of servere weather, the trade war and threat of tariffs. Most SUV sales fell as auto loan rates pressure and gasoline prices stopped falling. Car earnings give us insight into consumer trends.
Fiat Chrysler reported better-than-expected third-quarter earnings Tuesday and promised to pay 2 billion euros ($2.3 billion) in special dividends for the sale of its parts unit. However $FCA was hurt by a lower net cash forecast and losses in both Asia and Europe.
General Motors reported in linesecond quarter earnings Wednesday but warned going forward on higher commodities and exchange rates in Brazil and Argentina. GM had already warned on the negative affects of tariffs. $GM fell 5% on the news premarket.
Fiat Chrysler missed expectations for second quarter earnings Wednesday and like fellow Big 3 carmaker $GM warned going forward on trade wars. GM had already warned on the negative affects of tariffs. $FCAU fell 9% on the news premarket.
The Big U.S. car makers Ford, General Motors and Fiat Chrysler report second quarter earnings this week with high expectations. June auto sales were stronger with $F sales rising 1.2%; Fiat Chrysler $FCA up 8% and $GM quarterly sales up 4.6%. Car earnings give us insight into consumer trends.
June auto sales were stronger with Ford sales rising 1.2%;Fiat Chrysler $FCA US Auto Sales rose 8%. General Motors $GM reported quarterly sales up +4.6%. All Major car makers sales were up. Car sales give us insight into consumer trends.
May auto sales are stronger than expected with Ford sales up 0.50% and Fiat Chrysler up 11%. Recall General Motors $GM only report quarterly now. Car sales give us insight to consumer trends.