GM to Ford Top Estimates as U.S. Sales at 66-Month High
Source: Bloomberg
By Craig Trudell and Megan Durisin - Jul 2, 2013
General Motors Co. (GM) and Ford Motor Co. (F), extending the recovery in the U.S. auto market, said their deliveries in June exceeded estimates as the industry selling pace may accelerate to the fastest in 66 months.
Ford sales of cars and light trucks gained 13 percent to 234,917, beating the 12 percent increase that was the average of 11 estimates. Deliveries for Chrysler Group LLC increased 8.2 percent to 156,686 vehicles. GM sales rose 6.5 percent to 264,843, topping the 2.1 percent average estimate of 11 analysts. Toyota Motor Corp. (7203) sales rose 9.8 percent.
Americans are buying new cars and trucks at the fastest rate since 2007 as they replace the oldest vehicles ever on U.S. roads. Automakers including Chrysler and analysts said they expect pent-up demand, attractive financing offers and an improving economy will keep propelling industry sales as the Federal Reserve winds down its unprecedented easing programs.
The same factors are still in place: Pent-up demand is unleashing, credit is cheap and widely available, and in terms of trucks, its all about the economy recovering and housing starts, Michelle Krebs, an analyst at auto researcher Edmunds.com, said in a telephone interview.
Read more: http://www.bloomberg.com/news/2013-07-02/chrysler-extends-streak-of-monthly-u-s-sales-gains.html
RussBLib
(9,030 posts)the GOP should be banished.
Botany
(70,559 posts)Duckwraps
(206 posts)GM will be able to pay back the money for their bonds I, and thousands like me, had in our retirement account. We lent them money in good faith so maybe they will have the wherewithal to pay us back in good faith. I'm not holding my breath.
DainBramaged
(39,191 posts)I've been loyal to GM since 1966, something most of you don't understand. That's why you see old Chevy's restored and not old Toyotas....
Duckwraps
(206 posts)then they stuck it in my ear. "Fool me once...." They had better hope they never need to float another bond (loan) again.
Yes I am bitter!!!
DainBramaged
(39,191 posts)no intelligence for you
Duckwraps
(206 posts)supposed to be some sort of an insult?
DainBramaged
(39,191 posts)Don't tell me you were loyal to GM for 45 years and walked away, yada yada yada.
Duckwraps
(206 posts)My first car was a used 1955, 2 door post Bel Air.The last was a 2008 GMC Serria 1500. I don't recall how many I owned in the intervening years. And yes I simply walked away fom them in Oct 2009 IIRCC and now owm BMWs.
Sorry you can't get your mind around that.
Oops, I lied. I bought the 55 in 59 so I was with them for almost 50 years