U.S. Auto Sales Strong, But This Is Why GM, Ford Stocks Keep Falling
By 55KRC Digital Staff
July 9, 2018
"The first half of 2018 has been stronger than we expected with the new light-vehicle SAAR staying above 17 million," said Jonathan Smoke, chief economist for Cox Automotive. But, he added, gains have been driven mostly by (low-margin) fleet sales, while higher incentive spending by automaker propped up flat retail sales over the period.