US Aug auto sales fall by 4.1% year on year

02 September 2016 16:23 Source:ICIS News

HOUSTON (ICIS)--US sales of new vehicles in August decreased by 4.1% from the same month last year, according to a report on Friday from US-based research firm AutoData.

US Sales of New Autos

 

Aug 2016

Aug 2015

YTD 2016

YTD 2015

Passenger Cars

600,983

687,998

4,854,829

5,298,493

Light Trucks

911,573

889,409

6,824,791

6,311,435

Total

1,512,556

1,577,407

11,679,620

11,609,928

August sales of light trucks rose by 2.5% year on year.

However, sales of passenger cars continued to decline, posting a significant drop of nearly 13%.

Among the three major US automakers, Fiat Chrysler Automobiles (FCA), General Motors and Ford all posted year-on-year losses of 2.4%, 5.2% and 8.8%, respectively.

Nevertheless, year-to-date, total US sales of new light vehicles through August were up by 0.6%.

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US Aug auto sales fall by 4.1% year on year

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please
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By Tracy Dang