The automotive industry’s hot auto sales cooled off in July.
Ford Motor Co. on Tuesday said its July sales fell 2.8 percent compared to the same month a year ago, while crosstown rival General Motors Co. said sales fell 1.9 percent. Fiat Chrysler Automobiles reported a slight gain of 0.3 percent.
FCA, which recently switched its sales reporting practices, said it sold 180,727 vehicles compared to 180,124 the same period a year ago. It was driven by its Jeep and Ram brands, which rose 5 percent each. Chrysler sales fell 4 percent, Dodge sales fell 10 percent, and Fiat sales fell 14 percent.
Sales rose at all GM brands except for Chevrolet, which saw a 5.3 percent sales dip. GM’s brands collectively had their best July retail sales performance since 2007, the company said.Meanwhile, US consumer spending rose 0.4% in June for second month in a row.
Spin from The Huffington Post: ObamaCare getting more expensive but still cheaper than predicted. Wow.