Auto Makers Post Continued Growth
The latest sales figures from most of the major car manufacturers are very encouraging. Car makers report growth in many segments, especially smaller, energy efficient cars, but more recently, also reporting that truck sales have picked up. One possible reason for the increase in truck sales is the fact that gasoline prices have begun to come down, yet they are maintaining a sufficient level to still encourage many consumers to continue to look for energy efficient options. Overall industry reports are for over 13 percent growth for the month of June.
US manufactures Chrysler, Ford and GM posted heathy figures overall, with strength in smaller cars and light trucks. Chrysler was the leader of US manufacturers, with nearly a 30% gain. Ford was up over 13 percent, while GM was up over 10 percent.
Among foreign car makers, Hyundai reported over 15% increase in sales, While Volkswagen posted very healthy growth of over 35 percent. Kia reported it’s best sales ever over 41 %.
Not all the Japanese manufacturers joined the party. While Nissan did have reasonbly heathly gains of over 11%, Honda and Toyota actually lost market share. Much of the losses were attributed to the earthquake / tsunami disaster, which has left the manufacturers with supply chain and production delays. The thought is that they should be back up to full capacity by the end of the year.