Toyota Motor Corp and Fiat Chrysler Automobiles NV reported a fall in U.S. auto sales in February, as the industry faces weak demand following a long bull run after the financial crisis.
New vehicle sales are expected to drop in 2019 as rising interest rates weigh on sales and result in higher monthly repayment for car loans.
U.S. President Donald Trump`s threat to impose a 25 percent tariff on imported cars risks a further hit to vehicle demand and profits for automakers, potentially forcing consumers to delay purchases and shift to the used car market, analysts say.
Toyota said its sales fell 5.2 percent to 172,748 vehicles in February due to declining sales of its flagship Camry sedan.
Fiat Chrysler said its February sales fell 2 percent to 162,036 vehicles, hurt by lower demand for its Fiat 500 small city cars and Jeep Compass sport utility vehicles.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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