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Major U.S. car companies, including the likes of Kia and Ford Motor Company, are disappointed with yet another down month, with sales failing to meet estimates.
Car companies have been struggling to start the 2017 calendar year. Many experts in the industry expected that to change in March, but unfortunately car companies across the United States are struggling to sell vehicles.
According to Jamie Butters and David Welch from Bloomberg.com, U.S. auto sales failed to meet estimates in the month of March, with Ford Motor Company and Kia Motors Company reporting some of the biggest declines in sales.
In the report, Kia reportedly suffered a drop of 11 percent, while Ford suffered a decline of 7.2 percent. While losses were expected, these were much larger than initially expected by analysts. Some of the biggest models to take hits included the Chevy Malibu and Ford Fusion, with those two car models dropping by 35 percent in sales.
“Many automakers are looking for signs of market stability as consumers continue to head towards trucks and SUVs,” senior vice president of Honda’s U.S. sales unit Jeff Conrad said in a statement.
This is some disappointing news for car companies, especially Ford. The automobile company recently decided to cancel building a plant in Mexico in favor of keeping jobs in the United States. Unfortunately, that decision hasn’t done much to improve consumer confidence or increase sales.
It’s a tough time for car companies to start 2017, but there’s a chance that they will be able to bounce back before the year is over.
