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AUTO MARKETS * USA
* Auto sales likely to slow in June
Detroit,MICH,USA -The Detroit News, by Bryce G. Hoffman -June 29, 2012: -- Growing concern about the economy appears to be taking its toll on automobile sales in the United States, prompting analysts to dial down their projections for June sales... But new car and truck sales are still expected to be well above last year's tally for the month, and most expect the sales rebound to continue. Sales figures for June will be released Tuesday... TrueCar expects new light vehicle sales in the United States to top 1.2 million units in June. That would translate into an 18.1 percent increase from June 2011, but a 6.9 percent decline from May 2012. Toprak estimates the seasonally adjusted annualized selling rate to come in at 13.6 million units for June — down from last month's figure of 13.8 million, but up sharply from the 11.5 million recorded in June 2011... Edmunds.com, another automotive research site, expects 1.3 million new cars to be sold in June, a 20.7 percent increase from June 2011, but a 4.7 percent decrease from May 2012. Edmunds said sales continued at a healthy pace for an estimated seasonally adjusted annual rate of 13.9 million light vehicles...
* Michigan - Global problems to result in higher quarterly losses for Ford
Dearborn,MICH,USA -The Detroit News, by Karl Henkel -June 29, 2012: -- Ford Motor Co. said Thursday it expects its second-quarter international losses to triple compared with the first quarter, brought on by deteriorating economic conditions in Europe, and investment and growth costs in its North American and Asia-Pacific-Africa regions... Pre-tax losses could balloon to $570 million in the second quarter, which ends this week, according to a filing the Dearborn automaker made with the U.S. Securities and Exchange Commission... The Dearborn automaker had a pre-tax loss of $190 million during the first quarter. Approximately 80 percent of those losses came from Europe alone... Ford said it expects to remain profitable for the 12th consecutive quarter, driven by the success of Ford North America and Ford Credit...
Labels: auto markets
posted by Unknown @ 5:29 PM
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