U.S. vehicle sales dropped in June for the sixth consecutive month, falling to 16.51 million seasonally adjusted annualized units from 16.66 million in May.
June was the slowest sales pace since 2015.
The first half of 2017 saw sales 2.1 percent lower than the first half of 2016. This year, 17.1 million units will be sold, Kelley Blue Book estimates.
The sale of cars continued to decline as buyers increasingly turn to pickup trucks, crossovers, and SUVs. Low gas prices and design preferences attributed to this trend.
“A solid labor market means that vehicle sales are expected to remain fairly stable through the rest of the year, but the days of robust sales growth are behind us,” Yun Cohen, National Association of Federally-Insured Credit Unions research assistant, said.
As vehicle sales fall, automakers institute incentives to attract buyers. In June, the average incentive was $3,661 while the average loan was for 69.3 months.
Vehicles also have been discounted. During the first half of the year, the average discount was 10.2 percent.
American automakers all posted year-on-year declines while foreign automakers saw increases. Fiat-Chrysler sales dropped 6.9 percent, Ford declined 3.8 percent and General Motors fell 1.8 percent.
Subaru sales jumped 9.1 percent.