US auto sales accelerate in June
SUNDAY, JULY 8, 2018
Powered by a strong economy, U.S. auto sales continued their climb upward for June, compared with a year earlier, automakers reported Tuesday.
The boost was powered by sales of SUVs, crossovers and pickups, offsetting the continued slide of passenger cars.
Ford, Fiat Chrysler, Toyota, Honda, Nissan, Subaru, Kia, Hyundai and Volkswagen all posted sales increases. General Motors, which no longer reports monthly sales, reported a sales increase for the full second quarter.
With a strong job market and bustling housing market fueling consumer confidence, consumers bought about 2.1 percent more vehicles for the month than a year earlier, according to Cox Automotive analyst estimates. Edmunds analysts projected an increase of 3.4 percent.
“With a healthy economy, consumers are spending,” IHS Markit auto analyst Stephanie Brinley wrote. “The preference for (sport) utility vehicles over cars continues, but as automakers adjust production to match, the rate of decline in car sales is likely to settle.”
The stronger-than-expected first half caused Cox Automotive to increase its full-year sales forecast from 16.7 million vehicles to 16.8 million. IHS maintained its forecast at 16.9 million.
That would still mark a slight decline from last year’s 17.2 million but would reflect a healthy and largely profitable rate for most automakers. How the major automakers fared: ❚ General Motors: For the quarter, GM sold 758,376 vehicles, up 4.6 percent from a year earlier.
The flagship Chevrolet brand rose 6.2 percent, in part because of the Silverado pickup’s 15.7 percent increase to 155,529 vehicles. The Silverado is GM’s best seller in the U.S.
For the quarter, the GMC brand increased 6.6 percent, the Cadillac brand rose 3 percent, and the Buick lineup fell 12 percent.
❚ Ford Motor: The Dearborn, Michigan-based automaker sold 230,635 vehicles for the month. Ford’s namesake brand was up 1.1 percent, and the Lincoln luxury brand was up 2.8 percent.
SUV sales increased 8.9 percent, while sales of pickups and vans increased 3.2 percent. But sales of passenger cars fell 14 percent. The company recently announced plans to discontinue the Fusion, Fiesta, Taurus and Focus sedans within a few years.
The F-series pickup lineup, the most popular model in the U.S., is on pace to top 2004’s full-year record of 939,511, Ford said. The automaker sold 79,204 Fseries pickups in June, up 1.7 percent. Sales of the vehicle rose 4.9 percent for the first six months.
❚ Fiat Chrysler: Selling 202,264 vehicles in the U.S. in June, the company’s red-hot Jeep brand continued its momentum with an 18.9 percent sales increase to 86,989 units. The Cherokee and Compass notched whopping sales increases of 88.6 percent and 82.2 percent, respectively.
The Ram brand was up 6.3 percent, and Dodge increased 9 percent. The Fiat brand fell 36.4 percent, and the Chrysler brand declined 31.7 percent. The Pacifica minivan made up 71.1 percent of the Chrysler brand’s total sales for the first six months of the year.
❚ Toyota: The Japanese automaker outperformed expectations with sales of 209,602 vehicles. That included a 4.4 percent increase for the Toyota brand and a 2.6 percent decline for the luxury Lexus brand.
Sales of pickups, SUVs and crossovers increased 13.7 percent. But sales of cars fell 9.2 percent.
Hot sellers included the Highlander SUV, up 25.3 percent.
❚ Nissan: Nissan recorded its best June ever with sales of 145,096 vehicles. That included a 2.5 percent increase for the Nissan brand and a 12.8 percent decline for the luxury Infiniti brand. Sales of pickups, SUVs and crossovers increased 9.7 percent. But car sales fell 7.5 percent.
The Rogue crossover, easily Nissan’s best seller, was up 7.7 percent to 37,004.
❚ Honda: The Japanese automaker outpaced expectations with sales of 146,563 vehicles. The Honda brand rose 5 percent, and the luxury Acura lineup increased 3.5 percent.
The company’s pickups, SUVs and crossovers stood out, rising 12 percent. That included a 35.9 percent increase for the Pilot SUV and a 17.5 percent increase for the CR-V crossover, which was Honda’s top seller for the month.
But passenger car sales slumped 2.4 percent, including a 10.3 percent drop for the Accord midsize sedan.
❚ Hyundai-Kia: Hyundai was up 17.5 percent to 64,052 vehicles. But the automaker’s luxury Genesis brand is slumping badly, with sales down 50.7 percent for the month. Hyundai sister automaker Kia posted a sales increase of 0.8 percent to 56,571 vehicles.