May Auto US Sales: General Motors Up 11%, Ford Motor Up 13.20% (F, GM, TM)
General Motors Co. (NYSE:GM), Toyota Motor Corp., Chrysler Group LLC, Nissan Motor Co. and Ford Motor Company(NYSE:F) reported higher U.S. sales in May, but that came below analysts’ estimates despite automakers increased incentive offers to draw buyers amid slow job growth.
Ford Motor Company (NYSE:F) reported 13.20% jump in sales for the latest month to 208,993 vehicles. Car sales to gained 6% 79,888: Fusion +8.9% to 26,857, Focus +11.1% to 24,769, Mustang +57.8% to 10,427. Utilities +12% to 61,271: Escape -0.3% to 23,077, Explorer +10.1% to 14,662, Edge +23.9% to 11,749. Trucks +21.1% to 75,108: F-Series +29.3% to 54,836, E-Series +31.4% to 14,160.
General Motors Company (NYSE:GM) posted a 11% increased in May sales boosted by solid gains from Chevrolet, GMC and Buick brands, offsetting weakness at Cadillac. GM said that it sold 245,256 vehicles in May, up from 221,182 a year earlier and 15% above April’s total. Chevrolet sales grew 10% as GMC sales increased 19%. Total Buick sales were up 19% and total Cadillac sales slid 15%.
Toyota Motor Corporation’s (ADR)(NYSE:TM) sales surged 87% to 202,973, Chrysler’s climbed 30% to 150,041 and Nissan’s increased 21% to 91,794.
Chrysler, ranked fourth in U.S. light-vehicle sales this year, began production in May of the Dodge Dart compact and starts shipping the car to dealers this month. Deliveries of the Caliber, which Dart replaces, fell 66% to 1,341.
Toyota, No. 3 in U.S. vehicle sales, still may have led the industry with its gain, which was reported in an e-mailed statement. The Toyota City, Japan-based carmaker has introduced new models such as the Camry sedan and Prius line of hybrids to recover market share lost after Japan’s March 2011 tsunami disrupted vehicle output and led to shortages through much of last year.
Shares of Ford fell 3.60% to $10.18, General Motors slid 2.70% and Toyota Motor lost 2.50%.
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