Strong August sales spur GM to boost 2015 U.S. industry outlook - Newsday
- 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 and Fiat Chrysler Automobiles reported surprising sales increases, while General Motors Co. posted a small decline, after cutting back low-margin sales to rental fleets. See also Sell your car "The market is down but consumers don't seem to care, they seemed to shrug it off," said Jeff Schuster, senior vice president of forecasting for research firm LMC Automotive in Troy, Michigan. 7 percent decline beat analysts' forecast, leading the company to say that 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. Fiat Chrysler's North American unit sold 201,672 vehicles in the United States last month, the second time this year that the group topped 200,000. Analysts had predicted a 1. 2 percent decline, the average of eight estimates compiled by Bloomberg. Projections ranged from a drop of 3. 7 percent to an increase of 0. 8 percent. "In spite of a tough 2014 comparison and extreme stock market volatility, our dealers' competitive spirit kicked in and propelled us to our 65th consecutive month of year-over-year sales increases," Reid Bigland, head of sales for the unit... Source: www.newsday.com
