Market Overview

Strong June Auto Sales Could Represent 'Peak Market'

Strong June Auto Sales Could Represent 'Peak Market'

With the aid of an extra selling day, automakers reported positive but hard-to-replicate performancein June. 

“All indicators tell us that we have reached peak market and it won’t be getting better from here,” Charlie Chesbrough, senior economist at Cox Automotive, said in a press release.

Ford Motor Company (NYSE: F) sold 230,635 vehicles, Toyota Motor Corp (ADR) (NYSE: TM) 209,602; Fiat Chrysler Automobiles NV (NYSE: FCAU) 202,264 and Honda Motor Co Ltd (ADR) (NYSE: HMC) 146,563.

Here are some of the major points of their sales reports:


Ford sales jumped 1.2 percent year-over-year, with a 2.9-percent pop in retail offsetting a 2.3-percent decline in fleet. The figure far exceeded Cox’s forecast for a 1-percent decline.

The Ford and Lincoln brands each contributed to the overall increase with respective 1.1-percent and 2.8-percent increases. Trucks rose 3.2 percent and SUVs 8.9 percent against a 14-percent fall in cars.

For the entire first half of the year, Ford’s fleet and retail sales saw 3.2-percent and 1.1-percent drops, respectively. Lincoln fell 10.8 percent and Ford 1.4 percent.

Fiat Chrysler

FCA’s best June retail sales in 14 years marginally beat Cox’s estimates.

The 8-percent year-over-year rise was driven by a 19-percent pop in Jeep, 6-percent in Ram, and 9-percent in Dodge. Chrysler fell 32 percent and Fiat 36 percent.

Year-to-date, all brands except Jeep and the low-volume Alfa Romeo suffered sales declines.


Toyota Motor North America’s sales were up 3.6 percent on a volume basis but down 0.3 percent on a daily selling rate basis, accounting for the extra day in June 2018. Cox had forecast a 1.2-percent overall decline.

On a volume basis, the Toyota division saw a 4.4-percent increase while Lexus posted a 2.6-percent decline.

The firm’s aggregate year-to-date sales came in 3 percent above 2017 numbers.


American Honda posted a 4.8-percent pop against Cox estimates for a 3.7-percent decline.

Trucks rose 12 percent to compensate for a 2.4-percent drop in cars. Both the Honda and Acura brands celebrated gains of 5 and 3.5 percent, respectively. 

The full first half of the year demonstrated a marginal decrease for the automaker. 

Related Links:

Ford, FCA, Honda Post Sales Growth As Toyota Languishes

Auto Pair Trade: Goldman Sachs Buys Toyota, Steps To Sidelines On Honda

Posted-In: Cox AutomotiveNews Best of Benzinga


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