Car makers like Ford, GM, and Chrysler are seeing a decline in car sales much like they did during the so-called Great Recession that occurred during the late 2000’s to the early 2010’s. It’s hard to understand why this is the case while foreign carmaking companies such as Toyota are seeing a steady rate of increase. Perhaps American made is just not as appealing as it once was.
According to FaithFamilyAmerica:
After the recession, it was car-buying time again, and with dropping fuel prices making it cheap and enjoyable to drive America’s roadways again, less budget friendly pickup trucks and SUVs began to roll off the lots. Something has changed, though.
Fiat Chrysler also owns the Dodge, Jeep, and Ram Trucks brands, among others. Fiat purchased Chrysler after the automaker went bankrupt during the recession in 2009.
Unlike all the other major automakers selling in the U.S., Toyota actually saw an increase in sales of 2% since last year. The Japanese manufacturer’s popularity continues to rise in America despite a spate of massive recalls over the past several years.
With the economy clipping along, though, and gas prices still low, it’s hard to say why so many carmakers are seeing less business in 2017. CNN Money points to buyers saving up to buy more expensive vehicles as there’s a renewed thirst for luxury.
Cox Automotive economist Charlie Chesbrough isn’t too worried about the U.S. car manufacturers, though, saying, “June’s sales number reaffirms that the U.S. vehicle sales are in a post-peak phase. The U.S. economy remains strong — confidence is high, unemployment is low — and this will continue to support vehicle demand over the near-term.”
What do you think of this? Do you still support American made or are you more of a foreign car type of person? Either way, the numbers don’t lie. Sound off in the comments and let us know what you think.