Automakers Sow Worry on Future as Discounts Prop Up U.S. Sales
- Incentives and fleets helped keep industry above 17 million
- GM, Fiat are in line with estimates; Japanese fall well short
Photographer: Victor J. Blue/Bloomberg
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Carmakers extended a streak of strong U.S. sales by slathering on the incentives and pumping up deliveries to fleet customers in 2019, calling into question whether the companies can maintain momentum into the new decade.
While industrywide deliveries exceeded 17 million for an unprecedented fifth consecutive year, sales slowed in the final months of 2019. General Motors Co. and Fiat Chrysler Automobiles NV reported fourth-quarter sales declines that were largely in line with analyst estimates, while Toyota Motor Corp. and Honda Motor Co. posted surprise December decreases.