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US: Detroit three have better than expected results in June

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US: Detroit three have better than expected results in June

While overall the US auto industry posted its best result last month since July 2006, individually the top three US automakers also managed to exceed analyst predictions.

General Motors for instance, while undergoing its biggest crisis since the exit from bankruptcy in 2009, managed to dismiss Wall Street’s expectations for a sales decline, posting instead a 1% rise in June.

“General Motors is amazingly resilient,” said Michelle Krebs, a senior analyst at AutoTrader.com. “Consumers recognize that the products GM is offering now aren’t the same as the recalled models. If you look at what’s selling, it’s the new stuff that’s doing really well.”

GM’s flow of newly designed or refreshed models drove the sales, reaching a total of 267,461 units. Buick’s deliveries jumped 18%, while certain Chevrolet and Cadillac models also enjoyed spectacular performances.

Chrysler, which has already has seen its sales going up for 50 straight months, didn’t disappoint last month either, posting a 9.2 growth to 171,086 cars and light trucks, thanks to great performances from the Jeep and Ram brands.

“In spite of two fewer selling days in June versus a year ago, we were able to increase our sales 9 percent and post our strongest June sales in seven years,” said Reid Bigland, Chrysler’s US sales chief.

Meanwhile, the only slip for a US automaker was recorded at Ford – which posted a 5.8% decline – though also beating analysts predictions of a greater dip, totaling deliveries of 222,064 vehicles.

Via Bloomberg, Reuters

by Aurel Niculescu (my Google+) - Wednesday, July 2nd, 2014 - filed under Chrysler, Ford, General Motors, Industry, News, Sales Reports, Sticky news. Image credit: .
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