(Brent Snavely – Detroit Free Press)
It’s official. The red hot auto industry is finally cooling off after two consecutive years of record industry sales and seven consecutive years of annual sales increases.
U.S. industry sales of new cars and trucks fell 4.7% in April to 1.43 million, marking the fourth consecutive monthly decline in U.S. industry sales. On a seasonally adjusted basis, the sales rate came in at 16.92 million, below forecasts of 17.1 million.
“Over the past six months we’ve watched nearly every automaker go from positive to negative sales volume, confirming the plateau in this latest sales cycle,” said Karl Brauer, executive publisher for Autotrader and Kelley Blue Book. Click here to read more.