GM U.S. Sales Top Estimates Amid Strong U.S. Light-Truck Demand
Automakers may report the best April sales in a decade even as some of them slightly missed analysts’ estimates. The good news is that highly profitable pickups and sport utility vehicles remain popular with shoppers.
General Motors Co. deliveries rose 5.9 percent, exceeding projections for a 5.3 percent gain. Increases by Ford Motor Co., 5.4 percent, Toyota Motor Corp., 1.8 percent, Fiat Chrysler Automobiles NV, 5.8 percent, and Nissan Motor Co., 5.7 percent, were less than predicted. Industrywide sales may rise 5.9 percent to about 1.47 million light vehicles, the average of 12 estimates.
The month’s results may be the best since 2005, said Eric Lyman, vice president of industry insights for Santa Monica, California-based automotive pricing firm TrueCar Inc. With U.S. gasoline prices down by about a third from a year ago, sales of large and luxury sport utility vehicles soared 31 percent in the first quarter, while family sedan sales fell 3 percent, according to researcher Autodata Corp.
“Even if we’re a little short of expectations, it’s still a great month for the industry,” Lyman said. “It continues to lead the broader economic recovery.”
Trucks and SUVs remain the story for carmakers, analysts said. Compact SUVs outsold compact cars last month for the first time, said Larry Dominique, president of ALG Inc., which sets automotive resale values for the industry.
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http://www.bloomberg.com/news/articles/2015-05-01/fiat-chrysler-sales-streak-reaches-61-months-on-jeep-ram-demand
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