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U.S. Auto Sales Gain 19%
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U.S. Auto Sales Gain 19%
Light vehicle sales in the U.S. auto industry grew 19% to 11.63 million units at a seasonally adjusted annualized rate in May. All the major automakers reported double-digit rises in sales except Toyota Motor (TM - Analyst Report). The sales gains were driven by a surge of new models in the market and an expansion of fleets by rental-car companies and governments.
U.S. Automakers
General Motors (MTLQQ) saw a 17% rise in sales to 223,822 vehicles. With this, the automaker topped its Detroit peers in absolute terms.
Sales of GM’s four core brands -- Buick, GMC, Chevrolet and Cadillac -- grew 32%, driven by strong demand for redesigned vehicles including Chevrolet Equinox, Chevrolet Camaro, Buick LaCrosse and Regal, GMC Terrain and Cadillac SRX and CTS Wagon. Fleet sales rose 45% to 83,305 vehicles.
Ford Motor (F - Analyst Report) witnessed a staggering 23% rise in sales to 192,253 vehicles. This was driven by a strong demand for the F-Series pickup and the new Ford Mustang. Sales to rental, government and commercial fleets rose 32%.
Ford’s car sales were up 8.7%, utilities 17.7% and trucks 48.4%. Combines sales of Ford, Lincoln and Mercury brands rose 23.3% to 192,253 vehicles. Meanwhile, Volvo, which is to be sold to China’s Zhejiang Geely Holding Group, clocked a 16.5% decline in sales to 4,659 units.
Sales at Chrysler (including the Chrysler, Dodge and Jeep brands) escalated 33% to 104,819 vehicles. The Chrysler brand sales were up 29%, Dodge brand sales rose 73% and Jeep brand sales increased 6%.
Japanese Automakers
Toyota’s sales increased a tad (7%) to 162,813 vehicles. This reflected the automaker’s jolted reputation due to its latest string of safety recalls and its huge incentives losing their luster. Sales of Toyota brand vehicles rose by 3.6%, while sales of some sedans including the Camry and the Avalon declined from the year ago level. However, Lexus sales soared 31% on the back of generous incentives designed to spur sales following the recall of the GX 460 SUV in the Japan and the U.S.
Sales at Honda Motor Co. (HMC - Analyst Report) gained 19.1% to 117,173 vehicles. Sales of its popular sedan Accord jumped 33% while sales of its luxury Acura brand rose 24.3% from the year-ago level.
Nissan Motor (NSANY - Analyst Report) has reported a 24.1% rise in sales to 83,764 vehicles. Sales at the Nissan Division rose 24% to 75,673 units during the month. Sales of Versa went up 95.6%, Sentra 59.6%, Altima 19.2% and Maxima 4.4%. Meanwhile, sales at Infiniti division grew 24.6% to 8,091 vehicles.
Global Automakers Elsewhere
South Korea's Hyundai Motor shot up 33% to 49,045 vehicles. Sales of its new sedan Sonata surged 92%, while sales of the new SUV Tucson jumped 227%. Hyundai's sister company, Kia Motors America, recorded a 21% rise in sales to 31,431 vehicles.
Daimler (DAI) has recorded a 21.9% rise in sales to 19,871 Mercedes-Benz and “smart” vehicles. Sales of Mercedes-Benz improved 26.7% to 19,176 vehicles, fueled by the new ninth generation E-Class, S-Class and the newly introduced SLS AMG. The smart USA division recorded a 40.6% decline in sales to 695 vehicles in May.
Our Take
The U.S. auto industry is likely to boom in the near future given the improving macroeconomic environment. With gas prices remaining steady and home prices stabilizing, consumers would be more eager to replace their old vehicles. However, the financial markets need to stabilize further and the unemployment scenario needs to improve.
Light vehicle sales in the U.S. auto industry grew 19% to 11.63 million units at a seasonally adjusted annualized rate in May. All the major automakers reported double-digit rises in sales except Toyota Motor (TM - Analyst Report). The sales gains were driven by a surge of new models in the market and an expansion of fleets by rental-car companies and governments.
U.S. Automakers
General Motors (MTLQQ) saw a 17% rise in sales to 223,822 vehicles. With this, the automaker topped its Detroit peers in absolute terms.
Sales of GM’s four core brands -- Buick, GMC, Chevrolet and Cadillac -- grew 32%, driven by strong demand for redesigned vehicles including Chevrolet Equinox, Chevrolet Camaro, Buick LaCrosse and Regal, GMC Terrain and Cadillac SRX and CTS Wagon. Fleet sales rose 45% to 83,305 vehicles.
Ford Motor (F - Analyst Report) witnessed a staggering 23% rise in sales to 192,253 vehicles. This was driven by a strong demand for the F-Series pickup and the new Ford Mustang. Sales to rental, government and commercial fleets rose 32%.
Ford’s car sales were up 8.7%, utilities 17.7% and trucks 48.4%. Combines sales of Ford, Lincoln and Mercury brands rose 23.3% to 192,253 vehicles. Meanwhile, Volvo, which is to be sold to China’s Zhejiang Geely Holding Group, clocked a 16.5% decline in sales to 4,659 units.
Sales at Chrysler (including the Chrysler, Dodge and Jeep brands) escalated 33% to 104,819 vehicles. The Chrysler brand sales were up 29%, Dodge brand sales rose 73% and Jeep brand sales increased 6%.
Japanese Automakers
Toyota’s sales increased a tad (7%) to 162,813 vehicles. This reflected the automaker’s jolted reputation due to its latest string of safety recalls and its huge incentives losing their luster. Sales of Toyota brand vehicles rose by 3.6%, while sales of some sedans including the Camry and the Avalon declined from the year ago level. However, Lexus sales soared 31% on the back of generous incentives designed to spur sales following the recall of the GX 460 SUV in the Japan and the U.S.
Sales at Honda Motor Co. (HMC - Analyst Report) gained 19.1% to 117,173 vehicles. Sales of its popular sedan Accord jumped 33% while sales of its luxury Acura brand rose 24.3% from the year-ago level.
Nissan Motor (NSANY - Analyst Report) has reported a 24.1% rise in sales to 83,764 vehicles. Sales at the Nissan Division rose 24% to 75,673 units during the month. Sales of Versa went up 95.6%, Sentra 59.6%, Altima 19.2% and Maxima 4.4%. Meanwhile, sales at Infiniti division grew 24.6% to 8,091 vehicles.
Global Automakers Elsewhere
South Korea's Hyundai Motor shot up 33% to 49,045 vehicles. Sales of its new sedan Sonata surged 92%, while sales of the new SUV Tucson jumped 227%. Hyundai's sister company, Kia Motors America, recorded a 21% rise in sales to 31,431 vehicles.
Daimler (DAI) has recorded a 21.9% rise in sales to 19,871 Mercedes-Benz and “smart” vehicles. Sales of Mercedes-Benz improved 26.7% to 19,176 vehicles, fueled by the new ninth generation E-Class, S-Class and the newly introduced SLS AMG. The smart USA division recorded a 40.6% decline in sales to 695 vehicles in May.
Our Take
The U.S. auto industry is likely to boom in the near future given the improving macroeconomic environment. With gas prices remaining steady and home prices stabilizing, consumers would be more eager to replace their old vehicles. However, the financial markets need to stabilize further and the unemployment scenario needs to improve.
Read the full analyst report on TM
Read the full analyst report on MTLQQ
Read the full analyst report on F
Read the full analyst report on HMC
Read the full analyst report on NSANY
Read the full analyst report on DAI
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