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Auto Companies Crush July Expectations

Benzinga.com
0 Comments| August 3, 2015

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A host of automotive companies released their U.S. sales figures for the month of July on Monday. Forecasts at the end of last month by JD Power and Kelley Blue Book both anticipated more than a 3 percent year-over-year increase and the highest sales total for the month in over a decade.

The big three American manufacturers -- Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM) and Fiat Chrysler Automobiles NV (NYSE: FCAU) -- all trounced analyst expectations and last year's numbers. GM and Chrysler each saw more than 6 percent gains over last July, while Ford posted a still-impressive 5 percent increase.

Meanwhile, Honda Motor Co Ltd (ADR) (NYSE: HMC) and Nissan each enjoyed 8 percent jumps for the month. Volkswagen sales moved up 2 percent and Toyota Motor Corp (ADR) (NYSE: TM) stayed relatively flat.

Gas And SUVs

Automakers likely benefited from low gasoline prices and a continuing surge in SUV popularity. All of Ford's major utility vehicles boasted double-digit sales hikes compared to July 2014.

The Nissan Rogue and GM's Buick Enclave each sold more than 50 percent better this year. The Jeep brand made up 41 percent of Fiat Chrysler's number of units sold. Large utility vehicles are marked by high ...

/www.benzinga.com/analyst-ratings/analyst-color/15/08/5728994/auto-companies-crush-july-expectations alt=Auto Companies Crush July Expectations>Full story available on Benzinga.com

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