Expecting 17.2 M pace
Here are some of the releases from the major auto producers for July (vs a year ago):
- General Motors posted a 6.4% sales increase
- Ford reported a 4.9% increase
- Fiat Chrysler sales rose by 6.2%
- Nissan rose by 7.8%
- Honda rose by 7.7%
- Toyota sales rose by 0.6%. The comparison from a year ago was a tough one.
The mix is heading back toward the big gas guzzling trucks and SUVS. Gas prices are down about $1 from a year ago leading to a sharp fall in fuel-efficient car sales. That is good news for the auto makers profits as they tend to make more on the sale of trucks and SUVs vs the smalller cars..