U.S. Car Sales Drop 5%

Light-vehicle sales in the U.S. fell to 1.43 million units last month from 1.50 million vehicles in April 2016, Autodata Corp. reports. The annualized sales rate dropped to 16.9 million units from 17.4 million.

April's results marked the fourth consecutive month of year-on-year sales decline, suggesting that sales may have finally peaked after seven years of continuing growth. But carmakers aren’t giving up yet, forecasting an upswing in sales later this spring.

Collective sales by General Motors (-6% to 244,200 units), Ford (-7% to 213,400) and Chrysler (-7% to 173,00) fell 6% to 634,400 units. Asian brands saw deliveries fall a combined 4% to 663,600 vehicles. Volume for European brands dipped 1% to 128,100 units.

Almost all Asian carmakers posted sales declines in April. The exceptions were Hyundai (+1% to 63,100 units) and Subaru (+4% to 52,400). Deliveries shrank for Toyota (-4% to 201,900 vehicles), Honda (-7% to 138,400), Nissan (-2% to 122,000) and Kia (-6% to 53,400).

Volkswagen led European brands with a 2% gain to 27,600 units last month. But sales declined for Mercedes (-9% to 29,100 units) and BMW (-9% to 22,600).

U.S. demand for conventional cars continued to plunge, dropping 11% to 557,300 units and a 42% market share in April. Light-truck sales were flat at 868,800 units.