Why did auto sales exceed expectations in June?
Edmunds.com Senior Analyst Jessica Caldwell commented “There was great pressure from automakers to close June strong, especially after the unexpectedly weak Memorial Day holiday weekend in May. It is the end of a quarter so undoubtedly they wanted to finish big. Two weak months in a quarter would make for unfavorable reporting.”
Edmunds.com Senior Analyst Michelle Krebs added, “High auto sales volumes in June can be attributed to pent-up demand, some targeted incentive programs, low interest rates and falling gas prices. According to one of the latest consumer confidence surveys, consumers think now is a good time to buy a car, and they are finding deals on the 2012 model year vehicles that need to be cleared away. The Big Three’s full-size pickup trucks increased over last year because of declining gas prices, low interest rates, signs of life in the housing market and dramatic pent-up demand. The pickup trucks on the road today are even older than the cars.”
On Ford:Edmunds.com Senior Analyst Michelle Krebs stated: “Ford seems to be successfully managing a tricky balancing act as it sells down two outdated versions of its highest-volume models, the Escape SUV and the Fusion sedan. In June, sales of the old and new Ford Escape combined to reach the model’s highest monthly sales volume on record, while the old Fusion generated the best June sales ever for that model awaiting the arrival of the new one this fall. Ford trucks also sold well in June, thanks to declining gas prices, low interest rates, signs of life in the housing market and dramatic pent-up demand. The pickup trucks on the road today are even older than the cars.”
On GM: Edmunds.com Senior Analyst Michelle Krebs stated: “GM was running on all four cylinders in June with all four of its brands finally showing year-over-year increases after not seeing that trend in recent months.
The Chevrolet Malibu had a great month with sales over 30,000, with the 2013 Malibu Eco in that mix. Other models of the newly designed Malibu go on sale this month. Higher Malibu sales, though, came at the expense of the Chevrolet Cruze, which had lower sales. Perhaps consumers figure they can get a bigger car for not much more money with not a huge hit on fuel economy. The Chevrolet Volt had another decent month with 1,760 units sold, though GM has lowered its original target for full-year sales.
Cadillac had a stronger performance than it has in some time as it awaits the launch of its two new models, the ATS and XTS, which hit the market soon. Buick also turned it around in June.”
On Chrysler: Edmunds.com Senior Analyst Jessica Caldwell commented: “Chrysler is benefiting from increased interest in SUVs and trucks due to the softening of gas prices. It also helps that this time of year is seasonally strong for minivans. All of those segments are key components of Chrysler sales.”
Click here for more information on June auto sales from Edmunds.com.
Below please click on the Automaker to find out more about their June 2012 sales numbers:
Chrysler Group LLC.: Chrysler Group LLC Reports June 2012 U.S. Sales Increased 20 Percent; Best June Sales in Five Years
General Motors: GM Reports June U.S. Sales up 16%
Ford Motor Company: Ford Motor Company June and Year-to-Date Sales Up 7%; Escape Sales Best Ever, While Fusion Posts June Record
Toyota Motor Sales U.S.A., Inc: Toyota Sales Increase More Than 60% in June 2012
American Honda: American Honda Reports June Auto Sales: 48 Percent Surge Nets Best June Sales Since 2008; Honda CR-V and Acura RDX Set Best-Ever June Records
Nissan North America: Nissan North America Sales Increase 28.2% In June
Hyundai Motor America: Hyundai Motor America Reports June and Mid-Year Sales
Kia Motors America: Kia Motors America Completes Best First Half Sales In Company History With Record June Performance
Volkswagen of America, Inc.: Volkswagen Reports 34.2% Sales Increase in June
BMW Group U.S.: BMW Group U.S. Reports June 2012 Sales
Audi of America, Inc: Audi sets all-time U.S. monthly sales record with 26% gain in June
Porsche Cars North America, Inc.: Porsche Reports June Sales
Mercedes-Benz USA: MBUSA Posts Record Sales Across All Three Brands In June
Mitsubishi Motors: Mitsubishi Motors Reports Outlander Sport Sales Up 13% In June
Subaru of America, Inc: Subaru of America, Inc. Breaks June Sales Record