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Automakers Post Strong Sales in June

Sales rise at Ford, Chrysler, GM, Toyota, Nissan and VW


June proved to be another strong month for automobile sales in the U.S. The Detroit Three carmakers all peg sales for the year running at a 14 million-unit pace. That’s up from the 13.8 million rate in May.

Ford (NYSE:F) reported that its sales rose to 207,759 vehicles, up 7% from the same time last year. The gain was led by its best-selling small SUV, the Escape. The company noted that most Escape sales were discounted older models, but 40% were new model vehicles.

Michigan’s General Motors — America’s No. 1 Automaker
Michigan’s General Motors — America’s No. 1 Automaker

General Motors (NYSE:GM) saw its sales rise 16% over last June, up to 248,750 vehicles, its best monthly performance since September 2008. Company officials said June was a good month for all of its brands, Cadillac, Buick, GMC and Chevrolet.

Chrysler, owned by Italy’s Fiat (PINK:FIATY), posted sales last month up 20% over 2011, hitting 144,811 vehicles, its best showing since 2007. Fiat also announced it was raising its stake in Chrysler to 61.8% from 58.5%.

June sales of Volkswagen (PINK:VLKAY) cars and SUVs rose 34.2% to 38,170 vehicles, marking the German carmaker’s best June performance since 1973. Toyota (NYSE:TM) posted a sales jumped of 60.3% to 177,795 vehicles as it continues to recover from last year’s supply disruptions. And Nissan (PINK:NSANY) posted a 28.2% increase over last year, selling 92,237 vehicles in the U.S. during the month.

More good news for carmakers: The average price for a vehicle sold in June rose 2.9% over last year to $30,508, an increase of 0.5% from May, the Los Angeles Times noted.

Article printed from InvestorPlace Media, http://investorplace.com/2012/07/automakers-post-strong-sales-in-june/.

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