Big Three automakers report another disastrous month of sales

The slump in US auto sales extended into July with the so-called Big Three carmakers reporting declines that were worse than expected.

Here’s the scoreboard of year-on-year sales:

Auto sales have fallen every month this year following seven straight years of record-setting volumes, suggesting that the market has peaked for now.

Economists forecast a rebound in July sales from June to a 16.8 million seasonally adjusted annual rate, according to Bloomberg.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.