U.S. auto sales fell 5.8% year over year last month, marking the third straight month of declining sales. Clearly, domestic auto demand has plateaued this year after six years of strong growth.
Two of the top three Detroit automakers saw significantly steeper declines in October. Sales fell 11.9% year over year at Ford Motor (NYSE: F). Meanwhile, Fiat Chrysler (NYSE: FCAU) reported a 10.3% sales drop. Let’s take a closer look at how Ford and Fiat Chrysler fared last month to see whether their double-digit sales declines are cause for alarm.