New cars sales slip 10.1% in August: FCAI
Car sales have been down all year and while July looked a little better than previous months August has come with a thump. David Brown reports how the decline is hitting hard.
New car sales recorded another slump in August, sidelining hopes that the previous month’s more moderate dip signalled a turning point.
Total sales for August came in at 85,600 units, which is a drop of 10.1 percent compared to August 2018.
Based on an estimate of new car cost this represents a reduction of over $3.5 billion in turnover just for one month.
In percentage terms there was a better performance for the manufacturers placed 21st to 30th in sales which have on average decline of 1.2% because of significant increases in players that are back on the market: MG, RAM, Haval and Great Wall.