Ford and General Motors Shares Surge as Sales in June Top Analysts' Estimates
The Paragon Report Provides Stock Research on Ford and General Motors
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/04/12 -- The auto industry has seen a slow but steady recovery since the lows of 2009. Auto sales in June rose to an annualized sales rate of 14.1 million vehicles according to Autodata Corp. Shares of U.S. automakers surged Tuesday after General Motors Co., Ford Motor Co. and Chrysler Group LLC reported auto sales for June that beat analysts' estimates. The Paragon Report examines investing opportunities in the Auto Manufacturers Industry and provides equity research on Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM).
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"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, 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."
Auto sales have seen a slow but steady recovery since hitting a 27-year low of 10.4 million vehicles in 2009. U.S. auto sales are currently on pace for their best year since 2007, when 16.1 million vehicles were sold.
Paragon Report releases regular market updates on the Auto Manufacturers Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Ford's 7.1 percent sales increase in June beat the analysts' average estimates of a 3.5 percent gain. "June was a good month for Ford and a particularly strong month for vehicles like Escape, Fusion, Explorer and F-Series," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "The new 2013 Escape also is off to a very strong start, with vehicles selling on dealer lots in less than five days -- even topping the strong start of the new Explorer in 2010."
Shares of General Motors surged nearly 6 percent after the company reported June sales increased by 16 percent. The average estimate of 11 analysts surveyed by Bloomberg was 7.6 percent. According to a recent Reuters article GM and Facebook are discussing the possible return of advertisements on the popular social network's site.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 04.07.2012 - 06:20 Uhr
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