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Ford Motor (NYSE:F), General Motors (NYSE:GM), and Chrysler Group said U.S. auto sales in June exceeded estimates, as the three Detroit companies posted surprising gains. Chrysler and GM led with double-digit increases, while Ford sales rose 7 percent from a year earlier. Toyota Motor (NYSE:TM) also continued its recovery from recent problems, registering a 60 percent increase in its June sales in the U.S., though the number dropped 12 percent from May.
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Ford (NYSE:F) said it sold 207,759 vehicles during June in the U.S., up from 194,114 a year ago and 3.9 percent below May’s number of 216,267. Ford had said last month that it would produce 40,000 additional vehicles this summer by pausing production at 13 plants for just one week, instead of the usual two weeks. But Ford (NYSE:F) has also warned that it expects to lose $570 million in its overseas operations in the second quarter, largely because of the unstable European economy. It added, though, that it expects to report an overall profit for the current quarter because of good results from its North American operations.
GM (NYSE:GM) said its June vehicles sales totaled 248,750, up 16 percent from a year earlier, with month-end U.S. dealer inventory at 700,927 units. “The combination of new products, available credit, lower fuel prices and modest economic growth was a stronger influence on consumer behavior than economic and political uncertainty,” Kurt McNeil, vice president of U.S. sales operations, told Wall Street Journal.
Chrysler said it sold 144,811 vehicles in June, up from 120,394 a year ago, but down 3.5 percent from May’s total of 150,041. Chrysler’s sales were lifted by upgrades and redesigns for most of its cars, Jeeps, and minivans last year. Chrysler finished the month with a 67-day supply of inventory. Chrysler reported higher first-quarter profits in April, three years after going into bankruptcy. It is turning profitable for Italian automaker Fiat, which took over the U.S. company’s management in 2009 and announced on Tuesday that it had raised its stake to 61.8 percent from 58.5 percent.
Toyota (NYSE:TM) said it sold 177,795 vehicles in the U.S. last month, up from 110,937 a year earlier.
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