Paced by declines at Ford, the Japan 3, General Motors and Hyundai-Kia, light-vehicle sales fell in July as the auto industry lost speed going into the second half of a year projected to be weaker than the robust first six months. The SAAR fell to 16.73 million, in line with projections. Light-truck demand rose while car deliveries skidded 18 percent.
Combined U.S. sales at Hyundai Motor America and Kia Motors fell 5.1 percent to 104,864 in July, with retail sales at Hyundai rising slightly to counter a sharp 51 percent drop in combined fleet deliveries at the Hyundai and Genesis brands.
Korean brands secured the top three spots in J.D. Power's annual report card on new-vehicle quality for the first time in the study's 31-year history. New quality at the Detroit 3 continues to improve faster than the overall industry.