General Motors, Ford, and Fiat Chrysler posted declines in U.S. new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Fred Katayama reports.
General Motors, Ford, and Fiat Chrysler posted declines in U.S. new vehicle sales for June. GM blamed the pullback on daily rental sales. Ford suffered from lower fleet sales to rental agencies, businesses, and government. Edmunds' Jessica Caldwell: (SOUNDBITE) JESSICA CALDWELL, SENIOR ANALYST AND DIRECTOR OF PRICING AND INDUSTRY ANALYSIS, EDMUNDS.COM (ENGLISH) SAYING: "June was an okay month. I think it kind of rounds up the first half of the year. It's definitely off the record pace that we've seen in 2016, but sales certainly haven't fallen off the cliff. It's still shaping up to be a pretty strong sales year from historical perspective, but we do think that they will, autosales, will pick up in the second half." On the flipside, U.S. sales of Japanese automakers, such as Nissan, Toyota, and Honda, came in strong. Overall, industry sales surpassed Wall Street's expectations, and retail sales to consumers were relatively stable. That pushed auto shares up.