Auto sales were stronger than expected in July and kept the industry on pace for its best performance since the turn of the century as cheaper gasoline and low interest rates drove the shift toward sport utility vehicles and pickup trucks. Fiat Chrysler Automobiles N.V. (NYSE:FCAU): According to 2 Analysts, The short term target price has been estimated at $ 12.26.The target price could deviate by a maximum of $6.02 from the forecast price.
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Fiat Chrysler said sales rose 6 percent on the strength of Jeep SUVs. There were 26 selling days last month, the same as in July 2014.
GM’s Chevrolet brand sold 56,380 Silverados, a 33.9 percent increase compared with last July. Fiat Chrysler Automobiles said sales rose 6.2%, Nissan Motor Co. jumped 7.8% and Honda Motor Co. said sales rose 7.7%. Lexus sales rose 30 percent to 1,863 cars and trucks.
Fiat Chrysler, Ford and General Motors reported sales figures that marked their best July since before the recession. FIAT dealers sold 962 units of the new crossover in July and will continue to see greater numbers of the new model arriving this month as production is ramped up. They’ve also been running deals to draw buyers onto the auto lot and have seen increasing demand for trucks and SUVs, which have a higher margin.
“We feel very good about our truck strategy heading into the late summer and fall, when those segments usually heat up”, says Kurt McNeil, GM’s U.S. vice president of sales operations, in a release. It labored. Altima gross sales rose 27 % and set a brand new July report. Luxurious gross sales have been up 10 % within the first six months of this yr; in the identical time interval, mass-market vehicle gross sales rose simply three %, in response to automotive buying website.
In this Thursday, July 2, 2015, photo, Robert Schemer, his wife, Kelly, and their son Graham, 9, pose next to their newly purchased pre-owned 2013 Ford Flex Limited, at the Star Ford Lincoln dealership in Glendale, Calif. At right is sales consultant Allan Calix.
Ford’s sales in the United States climbed 5 percent. “Customers truly value the new F-150’s capability, performance and fuel efficiency”.
FCA US, LLC, which changed its name from Chrysler Group LLC in mid-December, said its U.S. vehicle sales for July rose 6% to 178,027 units from 167,667 units in the same month last year, marking the 64th consecutive month of year-over-year sales gains.
The Jeep brand’s 23 percent increase was the largest sales gain of any FCA US brand during the month.
Sales of the 200 were up 85 percent, the mid-size sedan’s best July sales ever.
Toyota Motor Sales, U.S.A., Inc., a unit of Japan’sToyota Motor Corp.
However, sales at Toyota for July were up only 0.6%.
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Sales of midsize sedans have been slow as Americans pass them over for small SUVs, so automakers enticed buyers with zero percent financing deals on the Toyota Camry, Ford Fusion, Nissan Altima and other sedans.
