In Business News Today: The Biggest Story Not Being Reported -- September 4, 2018 -- Passenger Car Sales Drop 20%; SUV Sales Rose 20% -- Bigger Margin?

Ford F-Series, vans combine for best sales since 2005.

Since 2005.

Link here.

This is simply a re-print of the press release, but from 24/7 Wall Street:

Ford's August sales increased by 4.1% year over year to 218,504 Ford and Lincoln vehicles, compared with August 2017 sales of 209,897.

Passenger car sales fell 21.3% in the month while sport utility vehicle sales rose 20.1%.

Total retail sales rose 1.1% year over year in August to 165,794 units, and fleet sales jumped by 15% to 52,710 units.

Truck sales rose 5.7% for the month, and sales of F-Series pickups increased by 6.3% to 81,839 units, the best total for the month since August 2005.

If used for business, it's my understanding that Pa Jones can deduct the entire cost of his pick-up truck from his business profit in the year the truck was bought. Meanwhile, Ma Jones can do the same thing were her SUV. Best August since 2005. How many years ago was that? Wow.

The most under-reported story of the day.

And SUVs and pick-up trucks use a heck of a lot more gasoline / diesel than passenger cars.

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Holy Mackerel!

TSLA sinks: shares are down $12/share; down over 4%; trading well below $300.

And now, Mercedes-Benz will launch an EV directly competing with Tesla. 

Maybe this is the reason TSLA sunk today. Link here; the writer calls the results "mixed." The results don't look to "mixed" to me.

The results? Mixed.

Now entering September, we're in the last month of the third quarter. Through the first two months of the quarter, Tesla has apparently missed its goal to produce 6,000 Model 3s a week by the end of August, according to an Electrek report.

However, in its early-August earnings report, management said it expects to produce 50,000 to 55,000 Model 3 vehicles. So far, the company has cranked out nearly 35,000 units -- 15,000 shy of its range.

15,000 / 50,000 = 30% shy? Wow.

EV sales are tracked here. Toyota Prius Prime and Nissan Leaf were first to report; both were unremarkable. No other EVs have reported yet.

Sales:

• Toyota Prius Prime: 
• August, 2018 -- 2,071 (9% increase, year-over-year)
• August, 2017 -- 1,899
• August, 2016 -- zero
• Nissan Leaf
• August, 2018 -- 1,315 (14% increase, year-over-year)
• August, 2017 -- 1,154
• August, 2016 -- 1,066