Q1 of 2018 has shown a definite decrease in passenger car sales in the US. Overall sales declined 2.4% in February compared to 2017.
Consumer interest is shifting again to larger vehicles and a prolonged period of low gas prices has encouraged these sales. Another factor is stronger sales of lightly used cars. “The used-car market was very strong, and I think that’s probably part of what drove most manufacturers to be down this month,” said Nissan sales executive Judy Wheeler.
For the big big three Detroit automakers, February was exceptionally rough. General Motors sales fell 7%, Ford declined 6.8% and Fiat Chrysler fell 1.6%.
We’ve been hearing for years that younger generations are not as interested in new car ownership in today’s ride share and alternative transportation focused cities. It will be interested to see how the buying trends of the “Millennial” generation evolves as they age.