Some Automaker June Deliveries Exceed Estimates

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Bloomberg News

Extend­ing the recov­ery in the U.S. auto mar­ket, automak­ers see their deliv­er­ies in June exceeded esti­mates to an accel­er­ated pace not seen in more than 5 years.

Get the facts and fig­ures on automaker reports for June.

GM and Ford, extend­ing the recov­ery in the U.S. auto mar­ket, said their deliv­er­ies in June exceeded esti­mates as the indus­try sell­ing pace may accel­er­ate to the fastest in 66 months.

Ford sales of cars and light trucks gained 13 per­cent to 234,917, beat­ing the 12 per­cent increase that was the aver­age of 11 esti­mates. Deliv­er­ies for Chrysler Group LLC increased 8.2 per­cent to 156,686 vehi­cles. GM sales rose 6.5 per­cent to 264,843, top­ping the 2.1 per­cent aver­age esti­mate of 11 ana­lysts. Toy­ota Motor Corp. sales rose 9.8 percent.

Amer­i­cans are buy­ing new cars and trucks at the fastest rate since 2007 as they replace the old­est vehi­cles ever on U.S. roads. Automak­ers includ­ing Chrysler and ana­lysts said they expect pent-up demand, attrac­tive financ­ing offers and an improv­ing econ­omy will keep pro­pelling indus­try sales as the Fed­eral Reserve winds down its unprece­dented eas­ing programs.

Sales of Ford F-Series pick­ups surged 24 per­cent to 68,009, the Dear­born, Michigan-based com­pany said in a state­ment. GM’s Chevro­let Sil­ver­ado climbed 29 per­cent to 43,259. Chrysler’s Ram pickup increased 24 per­cent to 29,644.

GM rose 2 per­cent to $34.67 at 10:27 a.m.  New York time, while Ford gained 2.1 per­cent to $16.07.

Nis­san prob­a­bly led all automak­ers with a 13 per­cent increase in U.S. sales, match­ing the aver­age of eight esti­mates. The Yoko­hama, Japan-based company’s deliv­er­ies surged 25 per­cent in May, triple the indus­try­wide increase, after cut­ting the price of seven mod­els, includ­ing its top-selling Altima sedan.

Toy­ota sales topped the 6.2 per­cent of eight esti­mates. The Toy­ota City, Japan-based com­pany sees sta­ble rates for auto buy­ers in the near term, Bill Fay, group vice pres­i­dent for U.S. sales, said last month on Bloomberg Radio.

 

 

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