“It’s no longer expanding at the rate the manufacturers thought it would.”
He added that the more optimistic consumer sentiment recorded since Mr. Trump’s election “hasn’t
translated into what’s happening in dealerships where we’re trying to sell cars.”
Wall Street took notice: Shares of Ford Motor and Fiat Chrysler Automobiles were
down more than 4 percent, and General Motors shares fell almost 3 percent.
Many analysts have forecast that auto sales will suffer a small decline this year
— to about 17.2 million vehicles from the record of 17.5 million sold in 2016.
U. S. Auto Boom Seems to Be History, Just as Trump Counted on Jobs -
By NEAL E. BOUDETTEMAY 2, 2017
For seven years, the steadily expanding auto industry has helped drive the American economy forward, racking up billions in profit
and paying workers hefty bonuses, all while consumers flocked to dealerships and drove sales to record heights.
Ford Motor and Fiat Chrysler both saw their sales fall 7 percent or more in April, while Honda’s fell 6.3 percent and General Motors’ 5.8 percent.
In April, automakers sold 1.43 million cars and trucks, down from 1.5 million a year ago.
