June sends mixed signal for automakers, SUVs, trucks sales still strong

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June sends mixed signal for automakers, SUVs, trucks sales still strong

On Tuesday, the 2nd of July, major US automakers had revealed a mixed US sales result for June alongside second quarter, while demands for SUVs alongside pickup trucks across United States appeared to be surging and passenger car sales had been tumbling.

As far as sales of pickups and SUVs are concerns, Fiat Chrysler Automobiles NV’s Ram had been the best-selling in United States over the second quarter, leaving behind Chevrolet’s Silverado. Prior to 2019, Silverado had long been holding the second place behind Ford’s F-series pickup trucks, while Ram had often been a distant third, but so far this year, Fiat Chrysler’s sales of Ram had picked up pace and outperformed Chevrolet’s’ Silverado by more than 40,000 vehicles.

In point of fact, Fiat Chrysler, Ford Motor Co.’s and General Motors had escalated a war over prices earlier last month on their pickup trucks, which would likely to weigh on the quarterly sales at a time, when US auto sales were expected to experience a decline this year.

Adding that a higher interest rate alongside competition from rebuilt & off-lease vehicles had been squeezing new car sales, director of industry analysts at CarGurus Inc., an online marketplace for new and used cars, George Augustaitis said, “The market is not as down as it was to start off the year, which says a lot about market stability. At this point, a Fed interest rate cut could be the thing that sparks the industry”.