Sales for major U.S. auto makers sharply declined in July amid a modest slump in lease deals that have kept payments low, continuing an industry slowdown that has led to a glut of inventory on dealer lots and a spate of discounts. General Motors Co. reported a 15.4% sales decline in July compared to the same period a year ago, selling 226,107 cars and trucks. Ford Motor Co.’s said sales slid 7.4% last month to 199,318 vehicles.

Source: Wall Street Journal August 01, 2017 13:41 UTC