Ford has reported a 9% drop in second quarter last week, this is how the auto industry analysts got scared that car sales will slow down after 7 years of prosperity. Now the official U.S. sales have aired and it seems that the industry has really reached a plateau.
We’ve got the July sales numbers for every major car maker in the country, besides Land Rover,Porsche and Jaguar, because they are low volume marques. We’ve seen for all these years how people used to buy cars like toys, the number of new cars sold was growing an growing, and of course at one moment it must stop. What we didn’t know is that this end will come so soon. July’s auto sales were up only 0.4% compared to July last year, the first seven months of the year have only surpassed the same period last year by a measly 1%. That is enough for everyone to realize that the automobiles industry is flattening out. We see some signs of SUV’s slowing down for many brands, sedans are still keeping it strong by now.
Find more here: Car profits dropped!