Auto Sales Growth Stalls as Fed Ponders Rate Increase
Source: Bloomberg
June 1, 2016 — 9:00 AM EDT
Updated on June 1, 2016 — 11:23 AM EDT
* GM, Ford U.S. sales declined more than predicted in May
* Fiat Chrysler posts small gain in month with fewer sales days
U.S. auto sales were softer than predicted in May, a bellwether month that may help Federal Reserve decision makers determine whether the economy can handle an interest-rate hike this summer.
General Motors Co., Ford Motor Co. and Toyota Motor Corp. reported sales that fell more than analysts had estimated, while Nissan Motor Co. matched predictions with a 1 percent drop. Fiat Chrysler Automobiles NV surprised forecasters with a small gain by making more sales to fleet customers. Automakers stocks declined.
Weaker sales during the month show consumer demand for cars is leveling off faster than industry executives predicted. Sales are still at historically strong levels, but it’s looking more like strong growth has passed. The results add to economic data, including a jobs report coming on Friday, that Fed policy makers will examine when considering a possible rate hike this month.
"We may be looking at a plateau sooner than we expected" in sales, said Jeff Schuster, senior vice president of forecasting for LMC Automotive, a research firm in Troy, Michigan.
Read more: http://www.bloomberg.com/news/articles/2016-06-01/fiat-chrysler-posts-surprise-increase-on-jeep-minivan-demand
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We slip into full panic mode! The sky is falling, the sky is falling!! 
Picture says it all IMO.
