Strong August Sales Spur GM to Boost 2015 U.S. Industry Outlook - Bloomberg
Detroit’s three carmakers all reported surprisingly robust August sales, powered by pickups and sport utility vehicles, suggesting U. S. consumers are undeterred by the marked decline in global stock markets. Ford Motor Co. and Fiat Chrysler Automobiles NV reported unexpected sales increases, while General Motors Co. posted a small drop, after cutting back low-margin sales to rental fleets, and boosted its full-year outlook for the market by 300,000... Declines for Nissan Motor Co. and Toyota Motor Corp. 7 percent decline beat analysts’ estimates, leading the company to say that industry sales this year may reach 17. 3 million, up from an original forecast of as many as 17 million cars and light trucks. Ford’s light-vehicle deliveries increased 5. 6 percent and Fiat Chrysler’s rose 1. 7 percent. The average of analysts’ estimates compiled by Bloomberg was for a 0. 2 percent drop for Ford and a 1. 2 percent decline for Fiat Chrysler. ‘Strong Footing’ “The U. S. economy remains on a strong footing despite recent turmoil in the global financial markets,” Yong Yang, Ford’s senior U. S. economist, said on a conference call. Source: www.bloomberg.com
