Carmakers Post Surprise Declines as Discounts Fail to Stem Slide

U.S. auto sales trailed estimates, with Kia Motors Corp. and Ford Motor Co. reporting some of the biggest declines, as heavy incentive spending failed to contain plunging demand for sedan and compact models. Carmakers’ shares fell.

Combined deliveries for Kia and its affiliate Hyundai Motor Co. slumped 11 percent, and Ford’s dropped 7.2 percent last month, bigger decreases than analysts estimated. General Motors Co., Fiat Chrysler Automobiles NV and Toyota Motor Corp. also fell short of expectations.

Jamie Butters & David Welch | Bloomberg

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