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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (668462)	8/21/2012 6:49:34 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 1579696

GM, Chrysler Sees June U.S. Auto Sales Beating Estimates By Craig Trudell - Jul 3, 2012 4:18 PM ET General Motors Co. (GM), Ford Motor Co. and Chrysler Group LLC reported U.S. auto sales for June that topped analysts’ estimates, helping the industry surpass projections and stay on pace for the best year since 2007. U.S. auto sales accelerated to a 14.1 million seasonally adjusted annualized rate, researcher Autodata Corp. said in an e-mailed statement. The pace topped the 13.8 million light- vehicle rate that was the average estimate of 15 analysts surveyed by Bloomberg. Auto-industry sales provide a bright spot in the U.S. economy that has been hindered by persistent unemployment and weakening consumer confidence. Analysts under-estimated demand for most automakers’ vehicles after May sales came in lower than projected. Higher sales to fleet customers bolstered sales in June as did holiday promotions that attracted consumers. “A lot of analysts -- ourselves included -- were cautious going into June with the unemployment rate inching up, consumer confidence dropping and the volatility going on in Europe,” Alec Gutierrez, an analyst at Kelley Blue Book in Irvine, California, said in a telephone interview. “It’s just a testament to the strength of consumer demand for new vehicles despite all the negative news out there.” GM sales climbed 16 percent last month, beating the 7.6 percent increase that was the average estimate of 11 analysts surveyed by Bloomberg. Deliveries rose 20 percent for Chrysler and 7.1 percent for Ford, topping analysts’ average estimates for gains of 18 percent and 3.7 percent, respectively. Nissan Motor Co. (7201) sales rose 28 percent, exceeding the 21 percent average estimate. bloomberg.com