U.S. light-vehicle sales dropped 6.9 percent in July, the weakest showing yet in a year that is on track to generate the industry's first decline in volume since the 2008-09 market collapse. The SAAR dropped to 16.78 million, down more than 1 million from July 2016.
Hyundai attributed its decline mostly to a drop in fleet sales, which it said amounted to less than 10 percent of its volume for the month. Yet in an era of hot crossover sales, even its Sante Fe sales were down. Hyundai-Kia is still looking for its first monthly sales gain of 2017.
Kia took the top spot in J.D. Power's annual report card on vehicle quality for a second consecutive year. The annual industry ratings reached a new record and domestic brands maintained their edge over foreign rivals.