The automotive industry has experienced the greatest sales numbers in its history over the past few years and June was a really good month.
As we wait with bated breath for the time of decline to begin, the US automakers have continued to see strong numbers for the pickup truck and SUV segments of the market. Even though the threat of tariffs is looming, the confidence in the industry has been evident. It seems higher incomes and a lower unemployment rate is able to overcome the higher gas prices and interest rates that are in place on vehicles sold right now.
GM Increased Numbers
As the number one US automaker, GM shows a strong trend upward. Even though GM no longer reports sales monthly, but does so quarterly, the quarter that ended June 30 showed an increase of 4.6 percent compared to the previous year. This results in sales of 758,376 for the quarter which was supported by strong truck and SUV sales. A new wave of all-new crossovers makes it possible for GM to have the success desired and with the Blazer coming back in the next few months; it seems the GM team will continue to enjoy sales success.
Ford Shows Strong Growth
Ford may be turning its back on the sedan market, and the numbers certainly support such an action. The sales for June at Ford grew compared to last year. This is a sale of 230,635 vehicles compared to 227,979 for the same month only a year ago. SUV sales for Ford increased 8.1 percent for the month which shows their confidence in this area of the market is certainly supported by the numbers. Trucks also sold at a high rate to continue to be one of the top-selling segments in the market.
FCA Sales Increased as Well
Even though it feels as if the FCA brands tend to drop models and are shifting to a different area of the market every year, this company saw impressive growth of nearly eight percent for June. This means there were 202,264 vehicles sold across the varying brands of FCA. This sales increase was led by the Jeep brand, as expected, which saw the best June on record with an incredible 19 percent increase compared to last year. This increase in sales and growth in the Jeep brand continues to offer a reasonable explanation as to why FCA is investing in Jeep so heavily.
Foreign Automakers Also See Increases for June
Several of the brands that have their base of operations outside the US also saw increased sales last month. Mitsubishi, Subaru, and Honda all saw growth for the month and all are on track to have a better year this year than they did in 2017. The crossovers from all three brands are showing significant increases in numbers and continue to carry the brands forward. Unfortunately, Genesis, a brand without any crossovers yet, did not see an increase in sales and sold at a rate of about half what it showed last year.
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