Automakers on Friday reported a decline in U.S. light vehicle sales for February...
- Automakers on Friday reported a decline in U.S. light vehicle sales for February as demand for SUVs slows after years of rapid growth, pointing to a drop in overall sales in 2019.
Smaller rival Fiat Chrysler Automobiles NV said sales fell 2 percent to 162,036 vehicles, weighed down by lower demand for its Jeep Compass and Renegade sport utility vehicles. Analysts have said that rising interest rates on auto loans could crimp demand this year. Higher interest rates translate into bigger monthly car payments for consumers and could prompt some of them to postpone purchases.
Industry consultants J.D. Power and LMC Automotive have forecast U.S. auto sales to dip about 1 percent to 1.29 million vehicles in February.
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