GM, Ford, Chrysler all increase sales in July
GM sales rose almost 8% in July, while Ford sales rose 8.9% and Chrysler sales increased 20.1%.
From the Detroit Free Press:
The Detroit Three saw U.S. sales increase in July and gained market share, as a troubling economy and weeks of worries about the U.S. debt ceiling continued to hamper a recovery in auto sales.
Chrysler had its best July since 2007 to lead Detroit’s automakers with a 20.1% surge, off a 33% gain in sales to individual customers. General Motors’ U.S. sales rose 7.6% last month and Ford’s grew 8.9%. Japanese automakers continued to lose share to their American rivals as they recovered from the March earthquake and tsunami in their country.
GM forecast July industrywide sales of light cars and trucks were flat from the previous year and slightly better than June. Consumers stayed out of showrooms amid news of climbing unemployment and bitter debate over raising the U.S. debt ceiling to prevent the country from defaulting on its loans tonight. President Barack Obama signed legislation today to prevent that scenario after the Senate approved the bill.
From the Associated Press:
General Motors says its U.S. sales rose nearly 8 percent last month, led by fuel-efficient vehicles such as the
Chevrolet Cruze car.
But GM's increase may not be the norm. Analysts predict that sales of new cars and light trucks in the U.S. rose slightly from a year earlier as few deals and economic worries kept car shoppers home.
Vice President of Sales Don Johnson says unemployment, low consumer confidence and uncertainty over the federal debt ceiling scared some buyers off.
GM sold 214,915 vehicles in July, including nearly 25,000 Cruzes. That could make it America's top-selling car for the second straight month.
Sales of the Chevrolet Equinox and GMC Terrain small crossovers rose 80 percent.
GM is among the first companies to report U.S. sales Tuesday.