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Car sales keep falling, but buyers pay more for trucks, SUVs

Car sales keep falling, but buyers pay more for trucks, SUVs

General Motors Co and Ford Motor Co reported USA sales that missed estimates as heavy incentive spending failed to keep struggling sedan and compact models from continuing their plunge. The "double-I" concerns, namely incentives and inventories, did not bode well for the companies either. They were downright alarming, resulting in sizeable losses from stocks of industry stalwarts like Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM), as well as setbacks for shares of foreign favorites like Honda Motor Co Ltd (ADR) (NYSE:HMC) and Toyota Motor Corp (ADR) (NYSE:TM).

The combined Honda and Acura total vehicle sales for March were down from the previous year, but the Civic remained the best-selling retail passenger auto in America for 2017's first quarter. Overall sales of every model except the tiny Fiesta declined year over year. Used vehicle sales were expected to have increased to 3.6 million in March, up from 3.4 million in February.

Analysts see some warning signs in the figures and some cautioned that sales could slow later this year. To measure price-variation, we found GM's volatility during a week at 2.57% and during a month it has been found around 2.09%. Nissan was once again led by the Rogue small SUV, which set a March sales record of almost 40,000 vehicles for a 20 percent increase. The stock now has a consensus rating of Buy and an average price target of $13.80.

The early results cast doubt on estimates that industrywide USA auto sales would rise in March compared with 2016's weakest month, when results were depressed by the early Easter holiday.

"Trucks and SUVs, although they did well, it's still hard to make up the lack of vehicle sales", said Jessica Caldwell, executive director of industry analysis for the Edmunds.com car-buying website.

Nissan reported a gain of just over 3%.

In other news, EVP Karl-Thomas Neumann sold 1,379 shares of General Motors Company stock in a transaction on Monday, February 13th. Ford's fleet sales were down 17% year over year in March, or roughly 16,000 vehicles, accounting for much of Ford's total overall decline of 18,461 vehicles.

Sales of Ford's Edge and Explorer SUVs were both down year over year, 16% and 6%, respectively - a surprise in what has been a hot market for crossover SUVs of all sizes.

More news: Meeks shoots, and rebounds, and saves the day for Tar Heels

General Motors reported an overall gain of 2 percent, with a 21 percent increase coming in the small midsize SUV segment to help the country's top-selling automaker to post a gain.

Ford's average transaction prices increased 3.4% to $38,220 from a year ago. Ford F- Series sales totaled 81,330 pickups-a 10 percent increase versus a year ago.

One interesting detail within Lincoln's sales data was that passenger vehicle retail sales were up 11%, while SUVs gained only 2%.

Honda says its March sales fell just under 1 percent, dragged down by sagging demand for its Acura luxury brand.

But Honda said Monday that vehicle sales struggled.

March "was a tough, tough, tough market", said Judy Wheeler, vice president of US sales at Nissan Motor Co Ltd (7201.T), which reported a 3.2 percent increase in sales for the month. Finally, BMO Capital Markets began coverage on shares of Ford Motor Company in a research note on Tuesday, December 20th. Vehicle sales were down nearly 11 percent, while truck and SUV sales rose 5.2 percent, according to Autodata Corp.

Chrysler sales dropped by 33 percent, while Fiat sales were down 5 percent. General Motors Company (NYSE:GM) has risen 12.11% since August 25, 2016 and is uptrending. As for our metric, numerous major OEMs were aggressive in the month especially Honda (-0.22) followed by GM (-0.19) and Mercedes (-0.26)...

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