Several major automakers, including GM, Ford, Fiat Chrysler Automobiles, Nissan Motor Co. and Hyundai Motor Co. said they sharply reduced rental auto sales in July, and they portrayed the decisions as putting profit ahead of sales volume.
"Customers across the country drove retail gains of Ford brand SUVs in July", U.S. Marketing, Sales and Services Vice President Mark LaNeve said.
Although sales remain at respectable levels historically, USA automakers set full-year records in 2015 and 2016 - but automakers are not selling their popular crossover, sport-utility, and pickup truck models at a level to offset customers' abandonment of sedans and other traditional cars.
South Africa's Philander sent for hospital tests
Earlier, Bavuma's 52 took the Proteas to 175 all out in reply to England's first innings 353 - a deficit of 178. Day 3 action of the third Test match between England and South Africa will be on July 29, 2017 (Saturday).
Sales to rental fleets usually generate thin profit margins. Fiat Chrysler had a 10 percent drop. Ford Motor Co. was down about 2.5%, while General Motors Co. fell by 3.5%. Chevrolet was down 15.3 percent, Cadillac fell 21 percent, Buick fell 30.5 percent and GMC, which concentrates on trucks, fell 7.3 percent.
GM, Ford and Fiat Chrysler have said second-half financial results likely will be lower than first-half results, in part reflecting production cuts in North America and pricing pressures.
Auto sales are plummeting, hurt by low gas prices and changing tastes, though automakers continue to see healthy profits thanks to consumers' preference for SUVs.
Ford said in July that sales fell by 7.5%, but inventory was reduced from 79 days at the end of June to 77 at the end of July. "A strong real estate market, especially with regard to new home construction, in conjunction with low fuel prices, generous incentives and improved product offerings will help to keep truck sales strong".