Are Car Sales About to Drop Off a Cliff?

The Conference Board release reports some sad news for the auto industry: only 9.8 percent of people plan to buy an automobile in the next six months — the worst showing since October 2010.

The decline isn’t necessarily a big deal on its own, but there is a broader picture: Americans needed to buy cars after the Great Recession because theirs were aging. But it was inevitable that this replacement-cycle force, which has been helpful for companies such as Ford Motor Co. (NYSE:F) and General Motors (NYSE:GM), would come to an end at some point.

Here’s how car stocks reacted to today’s Conference Board news:

Ford Motor Co. (NYSE:F): F shares recently traded at $10.81, down $0.14, or 1.28%. They have traded in a 52-week range of $9.05 to $18.97. Volume today was 25,234,889 shares versus a 3-month average volume of 60,755,800 shares. The company’s trailing P/E is 6.48, while trailing earnings are $1.67 per share.

General Motors Corporation (NYSE:GM): GM shares recently traded at $20.09, down $0.41, or 2%. They have traded in a 52-week range of $19.00 to $39.48. Volume today was 5,817,385 shares versus a 3-month average volume of 12,298,000 shares. The company’s trailing P/E is 4.39, while trailing earnings are $4.57 per share.

Toyota Motor Corp. (NYSE:TM): TM shares recently traded at $64.36, down $0.59, or 0.91%. They have traded in a 52-week range of $60.37 to $93.90. Volume today was 243,928 shares versus a 3-month average volume of 538,202 shares. The company’s trailing P/E is 39.29, while trailing earnings are $1.64 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com