71600
US Auto Sales Dampened by Hurricane Harvey
US Auto Sales Dampened by Hurricane Harvey

US Auto Sales Dampened by Hurricane Harvey

US Auto Sales Dampened by Hurricane Harvey

US automakers reported weaker sales than forecast for August as Hurricane Harvey slowed purchases towards the end of the month.  Sales rose at a seasonally adjusted annual rate of 16.14 million, according to AutoData, Business Insider reported. Before the hurricane hit, analysts expected an increase for the first time this year. But August ended up extending the sales slowdown this year, which comes after seven straight years of record-setting numbers. Like other sectors of the economy dented by the hurricane, the new cars bought to replace those salvaged by the storm should boost the auto industry in the coming months.  Many automakers have pared down their less profitable sales to rental fleets, and this has subtracted from overall sales this year. Also, more profitable SUVs and trucks are outselling sedans, which have lower margins, suggesting that a shift in consumer preferences is underway.

Short URL : https://goo.gl/fscZ8N
  1. https://goo.gl/2K11M6
  • https://goo.gl/Mhvn7m
  • https://goo.gl/xkSSde
  • https://goo.gl/qFyAVJ
  • https://goo.gl/GoLcsC

You can also read ...

 TCCIMA Secretary-General Bahman Eshqi speaking in Vienna on Nov.16
Iranian banks are expected to open their first branches in...
Iran has 9,000 online retail stores.
With the ever-growing developments in the World Wide Web,...
Helping the Quake-Stricken?  Not If They Are Iranians!
Iran is a hotspot of earthquakes and several of them have...
Tehran-Accra Expand Agro Coop.
Three memoranda of understanding were signed between Iran’s...
USD at  41,000 Rials
After the US dollar’s recent bull run that pushed the value of...
Wide-Ranging MoU With Mexico
A memorandum of understanding on agriculture and rural...
Tesla Roadster Speeds in Front of Electric Truck
Tesla Inc upstaged its own debut of an electric heavy duty...
The first Iran-Luxembourg Forum opened on Wednesday and hosted...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus