U.S. auto sales maintain steady pace in June

While Ford’s sales rose only 2 percent, it showed the largest increase in the market in the average price of its vehicles, industry consultant Kelley Blue Book said.

Despite the apparent lack of supply in May, Ford CFO Bob Shanks on June 5 told investors that both the Dearborn and Kansas City factories were finally running at “volume production”, as quoted by Automotive News. Truck and SUV sales will again grow at a faster pace than sedans, aided by the low gasoline prices.

Toyota sales grew four per cent to 209,912 vehicles in June and were up six per cent for the first half of the year at 1.2 million vehicles.

Rival Ford’s sales grew two per cent to 225,647 vehicles in June and were up two per cent at 1.3 million vehicles for the first half of the year.

“We just wrapped up the U.S. auto industry’s best six months in a decade, driven by strong demand for pickups and crossovers”, said Kurt McNeil, head of sales at General Motors.

Toyota Motor Corp. reported a 4.1 percent increase that exceeded the 3.3 percent gain that analysts had estimated. On Wednesday, automakers posted good U.S. vehicle sales for June.

Honda Motor Co. sales rose 4.2 percent, compared with estimates for a 7.1 percent increase.

Fiat Chrysler Automobiles’ USA June auto sales increased 8 percent from a year ago, boosted by the continued strength of its Jeep SUV brand. “We’re at full production right now, but not full availability”, commented Mark LaNeve, Ford’s USA sales chief.

Japan’s second largest automaker Nissan Motor Co Ltd (OTCMKTS:NSANY) lead the pack in the United States in June with sales up 13.3%, against an expected increase of 11.8%.

Fiat Chrysler’s U.S.-based unit delivered 185,035 vehicles last month. The group has reported 63 straight monthly increases.

“Low gas prices certainly help SUV sales, but it seems like the emergence of smaller SUVs has also played a big part in higher sales”, Caldwell said.

GM said analysts may have not factored in to their expectations the automaker’s statement a month ago that its sales to rental agencies would fall by 20,000 vehicles in June.

Sales of Ford’s F-Series pickups fell 8.9 percent last month as the automaker said it continues to build inventory of the new F-150. Ford shares were down 0.4 percent at $14.95.

The shift to SUVs and a preference for fully loaded vehicles is drove up vehicle prices last month. GM also said average transaction prices soared by around $1,000 from June 2014.