Economy
US Auto Sales Exceed Expectations
Written by Sandy Williams
July 1, 2014
US auto sales slowed a bit in June but still made gains for most automakers. Sales exceeded analyst expectations totaling 1.4 million in June. WardsAuto’s currently estimates the seasonally adjusted annual rate for light vehicles in 2014 at 16.98 million, in line with industry forecasts of 17 million.
Chrysler had the best showing of the Detroit big three with sales up 9 percent year over year in June. General Motors showed a 1 percent gain while Ford Motor Company sales were 6 percent below June 2013 sales.
Japanese automakers Toyota, Nissan, Honda and Subaru all made gains in June. Hyundai and Kia boosted sales by 3.7 and .2 percent, respectively. Volkswagen sales fell a dismal 22 percent in June registering a decline of 13.4 percent year-to-date.
WardsAuto reports that strong sales boosted North American vehicle production by 85,000 units in second quarter and production for third quarter is expected to increase by 10,000 units. The projected North American car and truck completion for July through September is 4,212,400 units.
Sandy Williams
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