U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago ...
- U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago period, as rising prices and reduced incentives pinch buyers at the lower end of the spectrum, according to industry consultants J.D. Power and LMC Automotive.
“With the volume contraction focused on the low end of the market, the dip in industry retail sales poses a smaller threat to OEM profitability than headline sales results suggest,” Thomas King, senior vice-president of the data and analytics division at J.D. Power, said. Higher prices and reduced incentives are squeezing younger buyers, who have been affected the most. Among various segments, sales are expected to fall 8 percent among those aged between 16 years and 35 years, compared with a mere 4 percent decline among buyers above 55 years in April.
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