GM, Fiat Chrysler Report Sales Declines in the U.S., While Ford Posts Increase
November 01 2017 - 10:16AM
Dow Jones News
By Adrienne Roberts
Domestic auto makers on Wednesday posted mixed results for
October sales amid a tough year-over-year comparison and weak
demand for sedans.
General Motors Co. and Fiat Chrysler Automobiles NV reported
declines, while Ford Motor Co. posted strong gains.
GM said sales fell 2% in October to 252,813 units due to a
decline in sales of passenger cars, reflecting a preference for
trucks and SUVs. Fiat Chrysler reported a 13% decrease in sales to
153,373 units in October, a decline driven by a modest decline in
retail sales and a reduction in sales to fleet buyers, such as
rental-car companies.
Ford's U.S. sales increased 6.4% last month, with 199,698
vehicles sold. The company said F-Series truck sales carried the
performance.
Analysts expect overall auto-industry sales to have fallen 3.7%
in October compared with the prior year, according to J.D. Power.
There was one less selling day last month compared with October
2016.
On an adjusted basis, sales are expected to increase slightly.
Sales incentives and replacement demand sparked by recent
hurricanes are helping drive demand, analysts said.
Write to Adrienne Roberts at Adrienne.Roberts@wsj.com
(END) Dow Jones Newswires
November 01, 2017 10:01 ET (14:01 GMT)
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