DETROIT - great automaker posted July U.S. sales ticked higher by the crisis of the last months, but there is no doubt about the strength of the economy and the mood of the American consumer to dissipate.
"We see that the confidence of consumers quite fragile now because of the all that has happened in the last few months," General Motors co said sales of boss, Don Johnson, reporters on a conference call in the U.S..
GM US sales in July rose 9 percent and 20 percent by around 8 per cent, while increases in Ford Motor Co and Fiat-based Chrysler, respectively.
High unemployment and concerns over the strength of the U.S. recovery could force, car manufacturers to consumers offer a more generous incentives which sap profits, analysts said.
Monthly car sales are the first snapshot of consumer demand in a month. Habits are consumer spending of interest of last week lukewarm increase comes into effect in U.S. Q2 Edition and sharp downward revision in the first quarter.
The auto industry is also sales, which fell behind the economists predictions, concerns about the cause of the rest come from May and June. Analysts said that higher prices by many automaker at a time of fixed consumers went.
39 Economists those polled by Reuters had an annual revenue expected in July of 11.8 million vehicles.
This pace would still trail the 13 million-plus rate earlier this year, but many industry executives said it would marks the beginning of a recovery from a bottom in June, when the rate was 11.45 million.
The numbers are far away from the almost 17 million on average from 2000 to 2007, before the deepest U.S. economic downturn since the great depression and the bankruptcies of General Motors and Chrysler in 2009.
'Harder than a cheap steak'
Chrysler's U.S. sales Chief, Reid Bigland, called the market "harder than a cheap steak."
Analysts are forecasting at the beginning of the year had on previous sales a bounce in 2011 between 13 and 15 million vehicles, but March earthquake in Japan, which led to the production cuts and the weak economy changed the image.
On Tuesday, GM and Ford reaffirmed their prospects for the low end of the 13 to 13.5 million, including about 300,000 medium and heavy truck sales. However, GM Johnson said "a real cloudy economic Outlook" consumer sentiment had violated.
"It is to recover further although gradually more than we expected in the second half,", he said.
Consumer nervousness was reflected in the Department of Commerce announcement on Tuesday that U.S. unexpectedly consumer spending in June fell for the first decline in two years.
The US housing market strength is significantly more profitable for the full size pickup truck-sales, but Ford U.S. sales analyst George Pipas said that a recovery is more a matter of when than if.
He said "Last I heard, who was the housing market still on wounded knee".
Industry research firm of Edmunds said appealing to consumers, can auto manufacturer incentive spending boost. In July, automakers raised such expenditure by around 8 per cent over June.
Japanese brands increases incentive already spending around 25 percent to $1.990 per vehicle from June to July, compared with an increase of 4.5 percent to $2,919 per vehicle by the U.S. automakers, according to Edmunds.
While the U.S. level 47% higher than the Japanese rate, the difference is far below as it was 69 percent a gap, which suggests that Johnson and his colleagues can access U.S., priming pump incentive said a year ago, Edmunds.
"I am sure that Ford and the local people must follow,", said Gary Bradshaw has Portfolio Manager with Hodges capital management, the Ford shares.
GM on Tuesday a 8% sales get nearly 215,000 vehicles on demand for compact cars including the Chevrolet Cruze car and Equinox crossover.
GM said July sales of cars and crossovers rose 8 per cent and 20 per cent, respectively, shows a continued tendency to vehicles with smaller profit margins than full-size pickup trucks, fell 3 percent.
GM, which before the 122 days criticised booth for bloated inventory of large pickups at the end of June, was expected now to end of the year to 90 days. This is forecast downwards from the 100-110 days previously, closer to the 80 days i. d. r. favored by the industry.
Johnson said that GM is objective not, resort to discounting to drive-truck sales.
Ford sales rose by 9 percent due to the demand for cars fusion and Fiesta, as well as the small escape sport utility vehicle.
GM and Ford said that smaller cars and crossover vehicles was limited enough by inability.
"The consumer is to tell us that they longer require two as we can make," Ford's U.S. sales chief Ken Czubay.
Chrysler sales jumped 20 percent, while Nissan Motor Co and Hyundai Motor Co rose by 3 percent and 10 percent, respectively. Sales at Toyota Motor Corp. and Honda Motor Co, recovering still from the aftermath of the earthquake, it was 23 and 28 percent.
Copyright 2011 Thomson Reuters.
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