GM (GM) reported a 28% drop in May domestic sales to 268,892 cars and trucks from 371,056 a year ago. Cars dropped 14% while trucks fell 37%. GM blamed strikes, including the three-month break at supplier American Axle and Manufacturing.
Ford (F) sales fell to 217,998 vehicles in May from 259,470 a year earlier. Truck sales plunged 29% for Ford. Sales of the Explorer SUV dropped 41% to 8,122, while demand for the Expedition tumbled 43% 5,252. Sales of the automaker’s top selling F-Series pickup trucks dropped 31% to 42,973 vehicles.
According to Bloomberg, "Toyota Motor Corp (TM). and Honda Motor Co. (HMC) each had two car models that outsold Ford Motor Co.’s F-Series trucks in the U.S. last month, as consumers shift away from pickups and sport-utility vehicles. Honda sold 53,299 Civics and 43,778 Accords last month, spokesman Chris Martin said. Toyota sold 52,826 Corollas and 51,291 Camrys, according to a statement. Ford reported sales of 42,973 F-Series pickups."
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
