Nissan, Honda Car Sales Slump as Automakers Boost Incentives

Keith Crain is Editor-in Chief of Automotive News

But a late recovery helped stocks avoid bigger losses.

Toyota has also showed a 2.1 percent fall in sales; Fiat Chrysler showed a 5 percent drop (on the year) even though sales of the ever-popular Ram pickup truck was up 6 percent.

The company's plans for its ride-hailing and car-sharing vehicles remain unclear, but Ford may be creating its own new service to compete with the likes of Uber and Lyft.

While stocks recovered most of their earlier losses, the weak auto sales still sent a chill through the market.

At Honda, vehicle sales fell 8.7 percent, while truck and SUV sales rose 8.4 percent. Nippon Life Insur Com accumulated 0.04% or 60,102 shares.

The Dow Jones Industrial Average lost 0.1 per cent at 20,650.21. The Nasdaq composite shed 17.06 points, or 0.3%, to 5,894.68. ATR can display volatility of stocks, ETFs and indexes. Fiat Chrysler U.S. auto sales in March dropped 5%, Ford sales plummeted 7.2% but General Motors sales increased 1.6%. GM has dialed back output of cars like the Chevrolet Cruze, while Fiat Chrysler is eliminating models including the Dodge Dart compact. The company sold 42,410 Silverados in March compared with 46,384 pickups sold by Ram, which has been using big incentives to lure in new buyers.

The share price of the company (NYSE:F) was down -0.34% during the last trading session, with a high of 11.68 and the volume of Ford Motor Company shares traded was 26718895. Cacti Asset Management LLC's holdings in Ford Motor Company were worth $292,000 as of its most recent filing with the SEC.

The automotive industry is trying to start the second quarter with its best foot forward on Monday, but sales reports look weak initially.

Auto parts retailer O'Reilly Automotive dropped 11.15 dollars, or 4.1%, to 258.69 dollars.

Vehicle retailer Penske Auto Group (PAG.N) was down 1.5 percent and Group 1 Automotive (GPI.N) was down 3.3 percent on Monday morning.

Tesla, Inc., formerly Tesla Motors, Inc (TSLA) soared 4.8% or $13.10 to $291.33 after the electric vehicles maker said total deliveries in the first-quarter surged 69% to 25,000 from a year ago period. The meeting is being conducted virtually this year for the first time, following a growing trend of top companies moving to virtual meetings.

As a result, Ford's market value is about $45 billion, while Tesla's has climbed to nearly $48 billion. The company has market cap of $52.89 billion.

The dollar sank to 110.96 yen from 111.29 yen and the euro fell to 1.0665 dollars from 1.0684 dollars.

"We think the industry is plateauing at some levels", Ford Chief Economist Emily Kolinski Morris said. Brent crude, used to price global oils, slipped 41 cents to 53.12 dollars a barrel in London. Aetna and UnitedHealth both rose about 1%.

The industry's decline in March may be modest but it shows that the industry has finally hit a plateau after seven years of increasing sales and two consecutive years of record totals. Despite strong sales of the Grand Cherokee in March, Jeep's overall sales for the month were down 11 percent from the previous year. Heating oil slid one cent to 1.56 dollars a gallon. Its down 1.30, from 2.39 in 2016Q3. Silver lost four cents to 18.21 dollars an ounce. To measure price-variation, we found GM's volatility during a week at 2.57% and during a month it has been found around 2.09%.

The German Dax sank 0.5%, as did the FTSE 100. We anticipate truck incentives to continue to rise as OEMs may be willing to trade some level of profitability for incremental volumes. Hong Kong's Hang Seng gained 0.5%.

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