The Homa Files

The initial headlines were that US auto sales were up big in July.

Not so fast.

Yeah, they were up versus July 2009, but …

• Industrywide deliveries dropped to an 11.1 million pace
•  GM’s sales rose 1.5% … they were expected to rise 10%.
  Ford’s sales fell 0.7 %, trailing analysts’ estimates for a 10% gain.
  Chrysler sales gained 1.1%, versus a 2.2% expectation
  Toyota and Nissan sales dropped, but topped expectations.

The results show GM’s turnaround efforts may be slowing after last year’s bankruptcy.

Bloomberg, GM, Ford and Chrysler Sales All Lag Estimates,  Aug 3, 2010 Aug. 3
http://www.bloomberg.com/news/2010-08-03/gm-s-july-u-s-auto-sales-rise-5-4-falling-short-of-analysts-estimates.html

This entry was posted on August 11, 2010 at 6:55 am and is filed under Autos - Travel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.