Tuesday, October 2, 2012

U.S. September Auto Sales ... Toyota Up 42% Year-on-Year

Toyota and Chrysler sales were strong and better than projected in the U.S. in September. GM and Ford did less well, missing expectations.

Small Cars Aid September Auto Sales has the breaking news:

"Toyota Motor Corp. and Chrysler Group LLC posted double-digit gains in their U.S. auto sales for September, while General Motors Co. reported a 1.5% rise and Ford Motor Co. a slight decline.

Broadly, new-auto sales for September are expected to rise 8.8% from a year earlier and fall 11% from the prior month, according to car-shopping website Toyota's 42% rise and Chrysler's 12% increase outdistanced what Edmunds projected for them, while both GM and Ford fell short of expectations.

"Auto sales will continue to be a bright spot for the U.S. economy, which is particularly good news for GM as we walk into an even stronger cadence of new products in 2013 and 2014," Kurt McNeil, vice president of U.S. sales operations, said Tuesday.

GM sold 210,245 vehicles in September, up from 207,145 a year earlier, but 13% below August's total.

Chevrolet sales were up 1.5% as GMC sales were essentially flat at 33,192. Total Buick sales climbed 7.9%, and total Cadillac sales dropped 1.3%.

 "Passenger cars have been the launch point for a broad and deep GM product offensive," Mr. McNeil said. . . .

GM reported in August its second-quarter profit fell 38%, but the company still managed to beat analyst expectations despite slower vehicle sales in Europe eroding the bottom line.

Ford said it sold 174,976 vehicles during September in the U.S., down 0.1% from 175,199 a year ago and 11% below August's total.

Sales of the Ford brand, the company's largest, were essentially flat, while Lincoln sales decreased 3.1%. . . .

Ford's Escape sales increased 14%, while Ford Fusion sales declined 37% in September.

Strong sales of the Ford brand have helped the auto maker's results in recent months. But Ford reported in July its second-quarter earnings fell 57% as its overseas operations and a higher tax rate held back strong results from North America. The auto maker also lowered its full-year profit forecast as well as its budget for capital spending.

Chrysler, a unit of Italy's Fiat SpA, said it sold 142,041 vehicles, up from 127,336 a year ago, and 4.3% below August.

Truck sales grew 6.2% while car sales jumped 27%.

The namesake line's sales improved 5.5%. Sales for the Dodge brand were up 18% and sales for the Jeep brand increased 10%. The Fiat brand set an all-time sales record with a 51% increase....

Toyota has bounced back from the impact of last year's Japanese earthquake and tsunami and has posted monthly year-over-year sales gains since November. In August, Toyota posted its highest quarterly profit in four years and lifted its full-year production forecast to an industry-record 10.05 million vehicles."

Summing Up

No big surprises although 'Toyota and Chrysler both exceeded expectations.

Nissan and others have yet to report.

Thanks. Bob.

No comments:

Post a Comment