Although consumer spending increased in recent years, lifting activity in much of the retail sector, activity in the automotive industry has been relatively flat recently. US light vehicle retail sales during the 12-months through March totaled 17.1 million units, up just 0.1% from the same period one year ago. Longer-lasting vehicles and ride-sharing services such as Uber and Lyft are allowing consumers to delay or altogether forego purchasing new automobiles. While this may be good news for consumers, it is bad news for manufacturers. US total retail sales recently transitioned to slowing growth, which is an ominous sign for the already lackluster automotive industry.

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