Car Share Continues to Come Down
Thursday December 6, 2018
Share of car sales in the new-vehicle market came in at 28.8 percent in November – the lowest monthly level in U.S. automotive history. The previous low was set in August 2018 at 29.7 percent.
“The market continues to abandon cars, with no end in sight,” said Karl Brauer, executive publisher, Autotrader and Kelley Blue Book. “Automakers have slowed or stopped production and buyers are mostly looking at trucks and SUVs. A few models have somewhat stabilized in recent months, but generally speaking cars — and brands that depend heavily on cars — don’t have a good story to tell. Every time we think we’ve hit the bottom in car market share another month passes with trucks and SUVs gaining while cars lose. This is the reality that recently drove Ford and GM to announce plans to further reduce car production. Who can blame them?”