Fiat Chrysler (FCAU) and Ford Motor (F) beat expectations for U.S. auto sales in October, as did the overall industry, while Fiat topped Ford on retail sales.
X
Across the industry, the annualized sales rate was 17.57 million, better than the J.D. Power and LMC Automotive estimate for 17.4 million as well as September's pace of 17.44 million.
"Rising interest rates and higher vehicle prices are also thinning the crowds of shoppers," Edmunds analyst Jeremy Acevedo said ahead of Thursday's reports. "That's a trend we see stretching into the new year."
Strong sales of pricier SUVs and trucks helped GM and Ford offset lower unit volumes in Q3. But headwinds may intensify, with off-lease cars seen flooding the market.
Here are auto sales estimates and results from Ford, Fiat Chrysler and other big automakers. (General Motors (GM) and Tesla (TSLA) report auto sales data on a quarterly basis.)
Ford Motor
Cox Automotive sales estimate: 180,000; down 9.9%
Edmunds.com sales estimate: 189,793; down 5%
Results: Ford recorded sales of 192,616 units, down 3.9%. Retail sales fell 4.9% to 140,901 units. Fleet sales of 51,715 units decreased 1.2%. SUV sales increased 6.7% but truck sales declined 4.9% and car sales plunged 17.1%. F-Series sales sank 7.3%.
"Our sales mix continues to heavily favor" SUVs, trucks and vans, accounting for 81% of sales in October, Ford said.
Ford stock closed down 2.7% at 9.29 on the stock market today, testing support at the 50-day line and nearly erasing gains from earlier this week.
Fiat Chrysler
Cox Automotive sales estimate: 176,000; up 14.8 %
Edmunds.com sales estimate: 167,507; up 9.2%
Results: Fiat Chrysler sales rose 16% to 177,391. Sales rose across the Jeep, Ram, Chrysler, Dodge and Alfa Romeo brands, led by a 38% gain for the Dodge. Jeep sales rose 9% and Ram sales increased 14%. Fiat sales tumbled 35%. Retail sales jumped 8.5% to 141,200 vehicles. Fleet sales totaled 36,191 vehicles.
Fiat Chrysler stock jumped 3.8% to 15.69 but remains below the 50-day moving average. Fiat Chrysler tumbled below that key level earlier this week after reporting earnings that beat views. The carmaker expects to take a financial hit tied to a U.S. diesel investigation.
Toyota Motor
Cox Automotive sales estimate: 174,000; down 7.7%
Edmunds.com sales estimate: 192,729; up 2.3%
Results: Toyota (TM) sales shrank 2.5% to 191,102 units. Toyota division posted sales of 168,386 units, down 2.2%. Lexus division sold 22,716 units, down 4.6%. Total Toyota truck sales advanced 2.7%, but total Toyota car sales dropped 7.2%.
Shares edged up 0.6%, also trading below the 50-day.
Honda Motor
Cox Automotive sales estimate: 125,000; down 1.8%
Edmunds.com sales estimate: 126,581; down 0.6%.
Results: Honda (HMC) recorded sales of 122,182 units, a 4.1% decline. Truck sales increased 6.5% to 67,317 units. Car sales sank 14.5% to 54,865 units. Honda division total sales fell 5.3% to 108,558 units. Acura division sales rose 7.3% to 13,624 units.
Honda shares gained 1.2% to retake the 50-day line.
Nissan
Cox Automotive sales estimate: 115,000; down 6.5%
Edmunds.com sales estimate: 106,797; down 13.2%
Results: Nissan sales tanked 11% to 109,962 units. Nissan division sales decreased 13%. Infiniti sales increased 15%. Total Nissan truck sales eked out a 0.8% gain, while total car sales sank 23.5%.
Nissan (NSANY) shares slipped 0.2%.
YOU MIGHT BE INTERESTED IN:
ISM Manufacturing Index Hits 6-Month Low As Orders, Exports, Hiring Cool
Looking For The Best Stocks To Buy And Watch? Start Here
BMW Setting Up To Outrun Tesla In Autonomous, Electric-Car Field
GM Stock Powers Above Key Support After Blowout Earnings
The post Auto Sales See Surprise Gain; Fiat Chrysler Tops Ford In Key Category appeared first on Investor's Business Daily.
http://feedproxy.google.com/~r/BusinessRss/~3/8Qy-P3gTT3I/
No comments:
Post a Comment