July Auto Sales Dip

Dealership

U.S. auto sales experienced a slight dip, down about one percent overall from July 2015.

Many major automakers experienced a disappointing month, as “unusually hot weather — and softening demand — kept buyers at home,” the Associated Press said. GM, Ford, Toyota and Volkswagen all experienced dips in sales, with Toyota falling just one percent and Volkswagen eight percent off of last July’s sales pace.

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Honda was an exception to the bad news, seeing a rise in sales of 4% and 152,799 vehicles sold, and Nissan saw a 1% gain to 132,475.

Previous forecasts of another record year in 2016 are now giving way to suggestions that the industry will see a long, healthy plateau of sales numbers.

“The industry’s six-year sales streak is clearly plateauing, though plateauing at a rate above 17 million annual sales isn’t the worst place to be,” Karl Brauer, senior analyst for Kelley Blue Book told the Detroit Free Press.