Ford’s (F) June sales were down “only” 11% to 154,873. That means, based on drops in volume at other large manufacturers, that Ford picked up market share during the month. Ford Fusion sales were up 26%.
Sales of Nissan light trucks and cars fell 23% to 58,298. Toyota (TM) lost 33% to 131,654 and Chrysler was off 43% to 68,297. GM sales were off 33% to 176,571. Cadillac sales fell 40%.
Annualized sales of vehicles are currently running just below 10 million. While this is a recovery from levels in the first five months, it is still unlikely that any of the three domestic car companies can post consistent profits until sales come up another 10% to 15%. The car business still has a long way to go.
Douglas A. McIntyre
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