Horsepower was also in; gas-sipping not so much.
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Although analysts had predicted even bigger increases for individual automakers – especially considering there was an extra selling day this June compared with June 2014 – this month is still on track to be one of the best June for vehicle sales in almost a decade.
The big gainers in June were Fiat Chrysler Automobiles (up 8%) and Nissan (up 13%).
“Leasing is at a historic high of 33% of all sales”. The Lincoln brand was up 15%.
Hyundai Elantra – 26,613, up 55%. The uptick was thanks in large part to strong sales in the automaker’s “light trucks” category, which includes SUVS and crossovers. Analysts estimated that industry sales volume would be the best for June in nine years at 1.49 million. Ford was forecasted to have June auto sales grow 3 to 4 percent, but the Michigan-based company reported a 2 percent uptick since May. GM is stopping sales of fleet-only models, such as the Chevrolet Captiva, spokesman Jim Cain said in an email. Automakers are also helping themselves by introducing new vehicles faster and loading them up with desirable features.
Larry Dominique, TrueCar executive vice president for industry solutions, said manufacturers are starting to spend more on incentives to keep the sales recovery from fizzling. Another factor: Luxury sales, averaging around $50,000, which Dominique said are “on fire”. Ford shares were down 0.7 percent at $14.90.
The vehicle maker did see sales go up for some of its trucks and SUVs.
Ford said it had only half its normal inventory of F-150 on dealer lots in June and it will not have full supply of its most profitable product until the end of September. Kia, for example, was offering zero-percent financing for up to 66 months and up to $1,500 on Optima and Forte sedans. According to AAA, the average price for a gallon of gasoline in the US Wednesday was $2.76, compared with $3.67 on July 1, 2014.
Ford’s SUV sales rose 10 percent, but auto sales fell 3.5 percent. Ford sold 11,719 Mustangs, a 54 percent gain and the performance car’s best June since 2007.
“We just wrapped up the USA auto industry’s best six months in a decade”, said Kurt McNeil, GM’s USA vice president of sales operations. Besides the Rogue, sales of the midsize Altima rose 13 percent, bucking the trend in that segment. More transparency at dealerships and “greater availability of high-demand, high-margin crossover vehicles” are driving that gain, he said.
Chrysler brand sales fell for its Town & Country minivan production slowed as it transitioned to a new model. The Camry remains the best-selling auto in the US, but sales of the midsize slipped 8 percent.
Honda Motor Co (7267.T) showed sales of about 134,000 vehicles, up 4 percent from a year ago, on strong SUV sales. Hyundai sales were flat.
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Volkswagen sales rose 5.6 percent, led by the Golf family of compact cars.
