Shares of US automobile makers fell four% after knowledge for July gross sales got here in under analysts expectations.
Automotive gross sales over the past 12 months and a half have soared on account of pent-up demand from the recession.
However because the market has turn out to be extra saturated car gross sales are slowing, a development predicted final week by Ford when it introduced its earnings.
Gross sales of Ford have been down three% from final 12 months to 216,479 automobiles, in line with the corporate.
GM gross sales declined by 1% to 267,258 automobiles.
Fiat Chrysler was the one one to report an uptick in gross sales, however the rise was simply zero.three%. The Italian-American carmaker is beneath investigation by the US Justice Division for the best way it data gross sales and final month restated gross sales figures relationship again to 2011.
One persevering with development within the US has been the recognition of bigger and costlier sports activities utility automobiles and vehicles.
These gross sales assist raise earnings of carmakers like GM whilst general sale fall.