Tuesday, March 21, 2023

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Us Automotive Sector Slowed Down

Auto sales in the US fell 21 percent in August compared to a year ago, while in China increased 59 percent year-on-year in the same month. Auto sales in the US last month dropped to a 27-year low, pointing to uncertainty over the strength of the recovery in the world’s largest economy.

Automotive sales in the USA, which were 14 million on an annual basis in August 2009, decreased to 11 million 47 thousand last month compared to a year ago. Last year, the US government’s scrap incentive for vehicles had a positive impact on automotive sales.

Toyota, the world’s largest automotive company, decreased its sales by 34 percent year-on-year in August, followed by Honda with a 33 percent decline and Nissan with a 27 percent decline. In the same month, sales of the US automotive manufacturer General Motors decreased by 25 percent compared to the previous year, and Ford’s by 11 percent.

Japanese Subaru’s sales fell 23 percent in the same period, and South Korean Hyundai and Kia’s sales fell 15 percent. Sales of Chrysler, which is controlled by Fiat, rose 7 percent. Meanwhile, automotive sales in China, the world’s largest automotive market, increased by 59 percent on an annual basis in August. Auto sales in China last month reached 977 thousand 300. Automotive sales declined in France, Spain and Italy.

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