Automakers Mostly Report Lower U.S. Sales For June

(RTTNews) - Auto sales have started to ease after seven consecutive years of record sales volumes.

General Motors Co., (GM), Ford Motor Co., (F) and Fiat Chrysler Automobiles NV (FCAU) Monday reported lower vehicle sales in the U.S. for June, while Japanese auto-giant Toyota Motors (TM) reported an increase in sales driven by demand for pickup trucks and crossovers.

General Motors, the largest U.S. automaker, said its sales for June dropped 5 percent to 243,155 units from last year.

Retail sales dropped 3 percent, however GM's crossover retail sales were up 23 percent, due largely to the strength of Chevrolet Equinox. Buick's U.S. retail sales were up 6 percent.

"U.S. total sales are moderating due to an industry-wide pull-back in daily rental sales, but key U.S. economic fundamentals clearly remain positive," said Mustafa Mohatarem, GM chief economist. "Under the current economic conditions, we anticipate U.S. retail vehicle sales will remain strong for the foreseeable future."

Dearborn, Michigan-based Ford's June sales declined 5.1 percent to 227,979 vehicles from 240,109 last year. Retail sales were flat with last year at 152,396 vehicles.

Ford's car sales for the month dropped 23 percent year-over-year, while truck sales rose 1.2 percent and SUV sales gained 3.2 percent.

FCA US LLC, a unit of Fiat Chrysler Automobiles, reported that its U.S. sales for June declined 7 percent to 187,348 units from 202,421 units last year, reflecting year-over-year sales drop in the Jeep, Chrysler, and Dodge brands.

Toyota June sales grew 2.1 percent to 202,376 vehicles from 198,257 last year.

Sales at the namesake Toyota division gained 3.2 percent driven largely by 16.8 percent increase in Toyota's crossover and truck division. Lexus division sales dipped 5.4 to 24,395 units.

"The auto industry has cooled off compared to last year's record-breaking pace," said Jack Hollis, group vice president and general manager, Toyota division. "In the first half, however, Toyota held its No. 1 retail brand status, as we were able to outperform the industry, thanks to our incredible dealers gaining momentum in the 2nd quarter, especially in light trucks and SUVs."