PSA Autos: US Auto Sales August – SAAR Drops to Three-Year-Low on Harvey Impact
US Auto Sales August – SAAR Drops to Three-Year-Low on Harvey Impact
US auto sales dipped 1.9% YoY to 1.48mil units in August; dsr-adjusted (Aug 2017 had one more day than Aug 2016), sales fell 5.6% YoY. The performance was weak, as Hurricane Harvey hurt demand and supply in Texas, the second largest auto market after California. Accordingly, SAAR dropped to 16.14mil units, the lowest level since April 2014. Passenger car demand continued to shrink, down 8.5% YoY, while light truck sales continued to increase moderately, up 2.4% YoY. In August, light trucks accounted for 63% of total auto sales.
In contrast to previous months, the sales performance among auto manufacturers differed widely in August: while Toyota and GM posted surprisingly strong results (sales +6.8% YoY / +7.4% YoY, respectively) Nissan and FCA saw double-digit declines (sales -13.1% YoY / -10.6% YoY, respectively). These divergences can be partly explained by different level of fleet sales, incentives and new model launches.
We discuss the performance of the Japanese OEMs.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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