Foreign automakers posted uneven U.S. sales
Foreign automakers posted mixed U.S. auto sales reports in July as the industry enters what analysts say is a plateau for the showroom.
Japanese automaker Toyota Motor's U.S. sales fell 1.4% in July, compared to a year earlier, to 214,233 units. The company's namesake Toyota brand was down 0.5%, and the luxury Lexus brand fell 6.5%.
“Light trucks remained the hottest segment for the industry in July,” said Bill Fay, group vice president and general manager of the Toyota division, in a statement.
Honda posted a solid month with a 4.4% increase to 152,799 vehicles. The Japanese automaker's namesake Honda brand jumped 5.9% as sales of crossover vehicles, which are increasingly popular amid low gasoline prices, spiked.
Nissan, the other major Japanese automaker in the U.S. market, eked out a 1.2% sales increase to 132,475 units. The company said its sales of crossovers, pickup trucks and sport-utility vehicles soared 17.1%, but car sales tumbled 10.3%.
Embattled German automaker Volkswagen had another tough month, posting an 8.1% sales decline to 28,758 units.
The company is grappling with the fallout of its emissions scandal, which has prevented dealers from selling diesel vehicles for nearly 11 months.
Analysts at Edmunds.com, Kelley Blue Book and TrueCar projected an industry sales increase of 0.8%, a decline of 0.5% and a decline of 0.4%, respectively.
The industry hit a record high of 17.5 million vehicles in 2015, and analysts expect 2016 to essentially match that performance.
Follow Paste BN reporter Nathan Bomey on Twitter @NathanBomey.