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Ford’s monthly auto sales numbers are out – down 4 per cent in July, versus analysts’ expectations of a 0.8 per cent gain.GM numbers were also weak, down 6.4 per cent. Analysts were expecting a 2.1 per cent gain.
The weakness was driven by a sharp decline in fleet sales, while retail sales were up slightly.
From the Ford press release:
Fusion exceeded its best-ever July sales record last month, with 23,326 vehicles sold. Mustang sales increased 8 per cent versus last year, with 7,371 vehicles sold, representing its third straight month of sales gains since 2013 models started arriving in dealerships.
Explorer sales totaled 11,313 vehicles in July – its best-ever July sales result since 2006.
Ford F-Series, America’s best-selling vehicle, reported its 12th straight month of sales increases, with 49,314 F-Series sold. EcoBoost-equipped F-150s made up 42 per cent of retail sales in July.
Overall, Ford Motor Company sales were down 4 per cent in July due to lower fleet sales. Fleet sales were down 16 per cent. Retail sales were up 2 per cent.
And from the GM press release:
GM’s combined retail sales of mini- , small, and compact cars were up 41 per cent year over year. Retail passenger car sales in total were up 3 per cent, crossover sales were up 2 per cent and truck sales were down 12 per cent…
GM said last month that sales to rental customers would be down sharply in July because planned deliveries occurred earlier in the year compared with 2011. GM’s commercial fleet sales were up 41 per cent, the 28th consecutive monthly increase. Strong police vehicle deliveries to state and local agencies helped drive a 115 per cent increase in government sales. Total fleet sales were down 15 per cent.