FX.co ★ Quarterly sales of major automakers fall 9.7% in the US

Importantly, many experts note such positive aspects as a rise in car prices and high demand for more expensive cars.Five months ago, car factories were closed due to a lockdown and restrictive measures, and the decline in sales in the second quarter was 31%.It should be noted that sales of cars in September increased by 4.8% compared to the same month last year. This is the first time the indicator has moved off dead center relative to February.Wholesale buyers such as car-sharing companies have reduced car purchases as well. This could also affect the decline in sales in the third quarter.The average cost of buying a car last month reached a record of $35,655. The previous maximum of $35.42 thousand was recorded in August this year.Many automakers have reported that Americans are opting for more expensive trucks with additional paid features. In September, over 76% of new car sales were SUVs and trucks. This is a record for September.General Motors Co. sold 9.9% fewer cars in the last quarter than in the same period last year. Toyota Motor reduced sales by 11%, Fiat Chrysler Automobiles by 10.2%, Nissan Motor by 32.4%, Honda Motor (T: 7267) by 9.5%, Volkswagen (including Audi) by 10.8%.Meanwhile, South Korean Hyundai and Kia together increased sales of cars by 1.4%.At the same time, Ford Motor Co. Reduced sales by 7.9%, and Tesla Inc. increased sales of electric vehicles by more than 40%.At the beginning of 2020, a strong increase in sales was expected throughout the year. However, after three consecutive quarters of falling, analysts are now forecasting a figure below 14 million cars. In 2019, US car sales exceeded 17 million for the fifth consecutive year.In particular, Cox Automotive expects the current car sales in the United States to fall by 16% to 13.9 million.