“There’s too much stock, especially for cars,” which “are tanking even more than we thought they would,” said Haig Stoddard, senior analyst at WardsAuto. Consumers continue to shift away from cars and toward crossover utility vehicles that hold more cargo but don’t drive like trucks. Car sales have sunk from half of U.S. vehicle sales 10 years ago to about 40% of sales today, according to the Auto Alliance. In 2016, truck sales were up 7.21% while car sales were down 8.56%, the Auto Alliance said. Last year, 17.55 million cars and light trucks were sold in the U.S., barely up from 17.5 million the year before.

Source: Los Angeles Times March 09, 2017 19:30 UTC