US June auto sales rise on strong truck sales: Autodata

02 July 2013 22:31  [Source: ICIS news]

HOUSTON (ICIS)--US automakers sold 1.40m vehicles in June, an increase of about 8.5% from 1.29m on strong pickup truck sales, Autodata said on Tuesday.

Year-to-date, sales are up 7.7% to 7.83m cars and light trucks from 7.27m units, said the consultancy, which is located in Franklin Lakes, New Jersey.

The figures represent the single best month of auto sales since 2007 and a 16m unit annual rate. Just a few months ago, analysts were only expecting US automakers to sell about 15.5m units. If the auto industry keeps going at this pace, it will be its best year since 2007, analysts said.

Ford posted the biggest gain among US automakers, reporting that June sales were 235,000 units, up about 13.5% from 207,000 a year ago. The biggest gains came from sales of its popular F-Series, which the automaker said rose 24% to 68,000 units, the best June since 2005 for America's No 1 selling truck brand.

GM and Chrysler posted June sales gains of 6.5% and 8.2%, respectively, according to Autodata. Among the foreign nameplates, Nissan reported that its June sales were up by 12.9%, while Honda said sales climbed by 9.7%. Toyota's June sales were 9.8% higher from a year ago, while Volkswagen's sales dropped by 0.3%. Small-volume producers BMW reported June sales were up 21.4%, while Subaru's June sales climbed 41.6% from a year ago.

Automakers and several industry analysts said June sales were fuelled by a recovering US housing market, where contractors buy heavy-duty pickups. Sales of full-size pickup trucks at Ford, GM and Chrysler rose a combined 26% to 157,500 units, analysts said.

The American Chemistry Council (ACC) estimates that each automobile contains an average of $3,297 (€2,539) worth of chemicals, such as acrylonitrile-butadiene-styrene (ABS), nylon, polycarbonate (PC) and others.

($1 = €0.77)

Author: Mark Yost

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly