U.S. Auto Sales Rise in July
Most automakers posted higher U.S. sales in July, despite lingering consumer concerns over the economy, the Associated Press reported.
Sales rose at General Motors Co. and Chrysler Group LLC, while Ford Motor Co.’s sales were flat from June, AP said.
Industry-wide sales rose to an annual rate of 11.99 million vehicles, Bloomberg reported, citing an estimate by Autodata Corp. That was higher than the 11.9 million-vehicles level forecast by analysts.
Foreign-based automakers including Kia and Subaru posted bigger gains, as sales were boosted by easier credit and new models cars and trucks, and summer promotions.
GM’s sales rose 2.6% from June, helped by promotions. Ford, which has seen a strong 2010 so far, reported flat sales from June, though sales were up 3% from last July, AP reported.
Chrysler’s sales rose 5% to 93,313 vehicles, led by a 19% gain for its Jeep brand, Bloomberg reported.
Hyundai Motor Co., Korea’s largest automaker, reported its sales rose 6% from June and 19% from July 2009. Kia Motors Corp., a Hyundai affiliate, said its sales rose 21%.
