Automakers Post Strong Sales in June

by Christopher Freeburn | July 3, 2012 12:57 pm

Automakers Post Strong Sales in June

June proved to be another strong month for automobile sales in the U.S[1]. The Detroit Three carmakers all peg sales for the year running at a 14 million-unit pace[2]. That’s up from the 13.8 million rate in May.

Ford (NYSE:F[3]) 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.

General Motors (NYSE:GM[4]) 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[5]), 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[6] to 61.8% from 58.5%.

June sales of Volkswagen (PINK:VLKAY[7]) cars and SUVs rose 34.2% to 38,170 vehicles, marking the German carmaker’s best June performance since 1973. Toyota (NYSE:TM[8]) 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[9]) 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.

Endnotes:
  1. another strong month for automobile sales in the U.S: http://www.latimes.com/business/money/la-fi-mo-june-auto-sales-20120702,0,3344685.story
  2. 14 million-unit pace: http://hosted.ap.org/dynamic/stories/U/US_AUTO_SALES
  3. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  4. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  5. FIATY: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIATY
  6. raising its stake in Chrysler: http://investorplace.com/2012/07/italys-fiat-to-boost-stake-in-chrysler/
  7. VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
  8. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  9. NSANY: http://studio-5.financialcontent.com/investplace/quote?Symbol=NSANY

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