PSA Autos: Weak US Auto Sales in April as Incentives and Fleet Sales Decline
US auto sales decreased -2.3% YoY to 1.32mil units in April, with SAAR reaching only 16.41mil vehicles – the lowest level since Aug 2017. Market observers expected better results, since Apr 2019 had one more selling day than Apr 2018. DSR-adjusted, auto sales fell -6.2% YoY. Higher auto prices, higher financing costs, more light truck supply from the used car segment, declining incentives and lower fleet sales were all reasons for the disappointing performance. Analyst Julie Boote discusses the performance of the Japanese automakers.
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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