With the hot summer yielding equally scorching auto deliveries, the top three automakers from Detroit managed to post gains that overcame even the analyst predictions, signaling the continued strength of the US auto industry.
General Motors, the largest US automaker managed to rise 6.4 percent, thoroughly trumping expectations form analysts that only saw a modest 0.6 percent advance. Ford also managed to recover from its past negative figures, rising 5 percent and stepping ahead of projections for a 1.8 percent surge. Meanwhile, Fiat Chrysler kept its brisk pace that has been delivering positive results for 64 straight months, gaining 6.2 percent and again exceeding the 4.8 percent prediction from analysts. “The second half of 2015 is off to a great start, with industry sales above expectations,” commented Kurt McNeil, GM’s U.S. vice president of Sales Operations. “Last week FCA announced a 69% increase in second quarter profits and now we post our best July U.S. sales since 2005,” also commented Reid Bigland, FCA US’s sales chief. “We continue seeing even stronger demand for our newest products, especially F-150, Explorer, Edge, Mustang and Transit,” added Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service.
GM’s advances were supported by the 18 percent jump in Buick sales and the 8 percent rise in Chevrolet deliveries – with the latter posting a 24 percent jump across the pickup, van and SUV segments. Meanwhile, Ford seems to have sorted out its issues with the F-Series supply and demand has jumped 13 percent for the best July figures since 2006 even as transaction prices reached an all-time record pace. In turn, FCA posted the group’s best July in a decade, paced by the 23 percent jump in Jeep sales and the 85 percent increase registered by the Chrysler 200 sedan.