July Auto Sales Soar to Pre-Recession Levels
(Best Syndication News) July auto sales jumped to pre-recession levels, according to the big-three automakers. Ford Motor Company (NYSE:F) said that small car sales are up 32 percent year-over-year (y-o-y) while utility vehicles also posted strong gains.
General Motors Company (NYSE:GM) sold 234,071 cars last month, an increase of 23 percent (16 percent y-o-y). Kurt McNeil, vice president, U.S. sales operations, called their sales “well balanced” in the slow recovery. The company’s new products also helped.
GM passenger car sales were up 24 percent y-o-y. Their mini, small, and compact car deliveries increased 42 percent. The Spark helped push Chevrolet sales up 31 percent while the Chevy Impala sales jumped 32 percent.
Rounding out the big-three, Chrysler Group said they experienced the best July sales since 2006. It was their 40th month of consecutive y-o-y sales gains.
The optimism pushed the Dow up 128 points (+0.83%) to 15,628 and the broader S&P 500 up 21 points (+1.25%).
By: Dave Reddy