According to a comprehensive report from Worldway: As of early morning on July 2, Beijing time, major U.S. automakers released their latest sales data on Tuesday, showing that U.S. auto sales in June reached their highest level since the outbreak of the financial crisis and the subsequent bankruptcy protection filings by the two major U.S. automakers, while also setting the best annualized sales volume in nearly 8 years.
Industry statistics show that U.S. auto sales in June grew by 1.2%, far exceeding market expectations of a 3% decline for the month; the seasonally adjusted annualized sales rate was 16.98 million units, the highest level since July 2006.
General Motors, plagued by massive recalls and negative public relations, exceeded Wall Street expectations by reporting a 1% increase in U.S. market sales in June. Previous market surveys indicated that analysts had expected an average decline of 6% in General Motors' June sales.
John Krafcik, president of an auto shopping website, said that consumers are "tired" of the massive recalls and are no longer paying attention to the flood of bad news regarding General Motors and other automakers. He noted that one reason General Motors' sales remain strong is that consumers are actually focused on brands like Chevrolet and Buick, rather than the General Motors corporate label.
Investors also expressed greater confidence in General Motors, with the company's stock price rising 3% on Tuesday—even though General Motors has announced a total of 29 million vehicle recalls since the first half of 2014.
Chrysler Group, Toyota Motor, Nissan Motor, and Hyundai Motor all reported year-over-year sales growth in June, all exceeding market expectations; Ford Motor and Honda Motor's June sales performance was only slightly below market expectations.
Bill Fay, Group Vice President and General Manager of Toyota Motor Sales, U.S.A., said, "The sales performance in the first half of 2014 shows a steady recovery in the industry. We expect this pace to accelerate as we enter the second half of the year."
Ford Motor Company's June sales fell 5% to 222,064 units, but still exceeded the analysts' average expectation of 217,007 units; Chrysler Group's June sales were 171,086 units, a year-over-year increase of 9%; Honda Motor's sales grew 3% to 201,714 units; Nissan Motor's sales increased 5% to 109,643 units; Hyundai and Kia combined for 118,051 units in June; Honda Motor's sales fell 6% to 129,023 units.
Including Audi and Porsche, Volkswagen Group's U.S. sales in June fell 8% to 49,796 units.
