August U.S. auto sales seen down 5.2 percent; 2015 was peak: forecasters
- Oil steadies on doubts output cut will end global glut
- Western Digital (WDC) Raises Q2 Outlook
- Dollar edges up vs yen as traders eye ECB meeting for cues
- Foxconn says in preliminary discussions to expand U.S. operations
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
Automobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
DETROIT (Reuters) - August U.S. auto sales will be 5.2 percent below a year ago, adding to evidence that the peak of industry sales was in 2015, consultancies J.D. Power and LMC Automotive said on Thursday.
"With mixed economic signals, it certainly looks like U.S. auto sales may have peaked in 2015," said Jeff Schuster, head of forecasting at LMC. "However, it is important to focus on the sustainable high level of demand. Peak does not mean doom and gloom, and while the industry faces risk, it is not destined for a pullback.”
The consultancies said they expect August U.S. total auto sales of 1,492,700 vehicles, from 1,574,938 a year earlier. Automakers will report sales next Thursday.
Shares in the biggest U.S. auto companies General Motors Co (NYSE: GM), Ford Motor Co (NYSE: F) and Fiat Chrysler Automobiles
(Reporting by Bernie Woodall; Editing by Nick Zieminski)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiat Chrysler (FCAU) U.S. Auto Sales Fell 14% in November 2016, Wider than Expected
- Discrimination against Latinos in United States has risen, study says
- EU optimistic Basel bank capital deal can be reached in January
Create E-mail Alert Related CategoriesReuters
Related EntitiesChrysler LLC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!