June auto sales - Analysts expect a mixed bag
General Motors, Ford and other automakers will release their June auto sales numbers Friday. Toyota continues to recover from this year’s natural disaster.
The earthquake has slowed the automakers’ ability to deliver the high mileage cars that are much in demand. That’s expected to show up in Toyota’s June auto sales report. It’s also expected to be reflected in GM and Ford’s June auto sales numbers.
George Magliano is the senior auto economist with IHS Global Insight.
“GM’s got the Cruze and Ford’s got the Fiesta and Focus…that will help those models a bit…but the bigger cars and trucks that they make are going to suffer because gasoline is expensive today and expected to stay that way.”
Magliano says the economy is still a drag on auto sales.
“People aren’t working. The job market has struggled in the last couple months. Housing has not done anything. And that won’t help pick up truck sales.”
Analysts predict Ford and GM will both post double digit increases in June sales compared to last year.