U.S. automakers reported Tuesday that their sales declined for the fourth straight month in April. That makes the slump their longest since 2009 during the financial crisis. "The market is tapped out," said Adam Silverleib, vice president of Silko Honda, a Massachusetts dealership. He added that recent consumer optimism "hasn't translated into what's happening in dealerships where we're trying to sell cars." The top six auto makers in the U.S. market all posted retreating sales that were worse than expected, sending Ford and Fiat Chrysler stock falling by more than 4 percent, and General Motors by nearly 3 percent. Manufacturers already were getting ready to cut production, which could spell job losses just as President Trump is counting on the car industry to help add U.S. jobs. Source: The New York Times |
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