NEW YORK -- Leading automakers including scandal-plagued General Motors (IW 500/5) (GM) today reported better-than-expected June auto sales in the United States, an indication of higher consumer confidence.
Three of the four biggest auto sellers in the U.S. -- GM, Toyota (IW 1000/8) and Chrysler (IW 1000/30) -- notched increases from the June 2013 period, while Ford (IW 500/8) (F) reported a smaller decline than expected.
The companies reported lower sales in June than in May, when overall industry sales rose 11.4% from the year-ago period. Though all the reports were not yet in Tuesday, the early indications pointed to a much better performance than expected, said Alec Gutierrez, a senior analyst at Kelly Blue Book.
"It's an indication of consumer confidence. It's the result of the unemployment rate continuing to come down slowly but surely," he said.
Japanese auto giant Toyota reported an 11.9% rise in auto sales to 201,714 units, much better than the 1.3% rise projected by Edmunds.
"Sales in the first half of 2014 indicate a steadily recovering industry, and we expect this pace to increase as we move into the second part of the year," said Bill Fay, Toyota division group vice president and general manager.
By John Biers
Copyright Agence France-Presse 2014
