US' Big Three auto makers' sales drop in April

WASHINGTON, May 2 (KUNA) -- The Big Three US auto makers, General Motors, Ford, and Chrysler, reported a decline in sales in April compared to the same month last year, the companies reported Tuesday.
Chrysler said sales fell 6.6 percent to 177,441 vehicles, while General Motors' sales totaled 244,506, a 5.8 percent drop from the previous year. Ford sales dropped the most by 7.2 percent and sold 214,695 vehicles.
The declines in sales were previously projected by industry analyst groups such as Edmunds.com which predicted a 4 percent decline for the month and Kelley Blue Book with a 3.1 percent decrease compared to April of last year.
These results provide further evidence that US auto sales may be plateuing.
"After a weaker-than-expected March, it's becoming more likely that 2017 will be the first down year for the industry since 2009," said Tim Fleming, analyst for Kelley Blue Book in a statement.
"Beyond April, we will continue to closely monitor still high levels of inventory and elevated incentive spending by manufacturers, both of which are signs of overproduction following last year's sales peak." (end) ak.mt