GM (GM) reported a 28% drop in May domestic sales to 268,892 cars and trucks from 371,056 a year ago. Cars dropped 14% while trucks fell 37%. GM blamed strikes, including the three-month break at supplier American Axle and Manufacturing.
Ford (F) sales fell to 217,998 vehicles in May from 259,470 a year earlier. Truck sales plunged 29% for Ford. Sales of the Explorer SUV dropped 41% to 8,122, while demand for the Expedition tumbled 43% 5,252. Sales of the automaker’s top selling F-Series pickup trucks dropped 31% to 42,973 vehicles.
According to Bloomberg, "Toyota Motor Corp (TM). and Honda Motor Co. (HMC) each had two car models that outsold Ford Motor Co.’s F-Series trucks in the U.S. last month, as consumers shift away from pickups and sport-utility vehicles. Honda sold 53,299 Civics and 43,778 Accords last month, spokesman Chris Martin said. Toyota sold 52,826 Corollas and 51,291 Camrys, according to a statement. Ford reported sales of 42,973 F-Series pickups."
Douglas A. McIntyre
Top Gaining Stocks
Top Losing Stocks