US July auto sales top expectations, boosted by SUVs, trucks

Honda’s sales jumped 7.7 percent that topped 4.7 percent estimated by analysts.

FCA has extended its streak of year-over-year sales gains to 64-consecutive months. July sales figure for Nissan Motor Co.

Two of the automakers from Japan did even better with their sales than the big three.

FCA US finished the month of July with an 82-day supply of inventory (563,809 units).

Fiat Chrysler and General Motors Company (NYSE:GM) have posted overall rise in sales of nearly 6 percent relative to the previous year, while sales at Ford Motor Company (NYSE:F) have increased by 5 percent. It worked. Altima sales rose 27 per cent and set a new July record. Four Jeep brand vehicles set records last month. This was Ford’s best July since 2006. The Patriot’s 22 percent increase was the largest year-over-year percentage gain of any Jeep brand model for the month. However, Cardillac sales fell 7.1% to 14,154 units.

Subaru reported the biggest sales gain of 10.5 percent over last July.

“A lot of people are buying because they have confidence in the economy and need to replace their cars”, Dominique said.

For Fiat Chrysler Automobiles, Jeep sales were up 23%.

To compare sales over the past 10 years is not exact science, but it shows that Fiat Chrysler is continuously growing sales. Still, the major ones are the economic slowdown, the stock market rout, and the restrictions on new auto registrations in some major cities of the country.

Luxurious automakers are including extra fashions at decrease costs, which is attracting new consumers.

As for the luxury brands, Audi saw its best July ever in the U.S., with sales up 21 percent.

Retail sales grew 5% over the month, representing an increase in both volume and transaction price, as the F-Series continued to be the main catalyst for the automaker. Meanwhile, the Tacoma and Tundra trucks were a rare bright spot, up almost 17 percent.

On 29 July, General Motors Company (NYSE:GM) said it will investment United States dollars 1 billion (Rs 6,400 crore) to turnaround its fortune in the country, but said it will close its manufacturing plant at Halol, Gujarat to consolidate operations. The Nissan Rogue SUV remained a strong seller, with a 50.9 percent increase.

Automobile sales kicked into high gear in July. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Sales had touched its nadir at 9 million in Feb 2009.

Toyota reported sales of 217,181 vehicles, up 0.6 per cent from a year ago, as Camry was its best-selling auto in July.

Common Motors and Fiat Chrysler each noticed 6 % gross sales positive factors over final July, whereas Honda and Nissan noticed eight % features. The average price of a auto sold was US$33,453 (RM129,018) in July 2015, up 2.6 per cent from July 2014, according to Kelley Blue Book.