Ford, Honda and Nissan all reported June U.S. sales that were better than estimates, as analysts predicted a stabilizing U.S. economy may have led the auto industry to its strongest month this year.
General Motors, Toyota and Chrysler each posted sales that fell more than analysts expected.
Ford predicted that the industry annual rate for June was still the highest so far in 2009, while GM said the pace probably was no more than 9.9 million as a new U.S. program to spur trade-ins of older vehicles kept some buyers on the sidelines.
The U.S. sales slide, headed for its 20th straight month, may have slowed in June, with an annual rate of 10 million cars and light trucks or more for the first time this year as consumers gain confidence and shrug off bankruptcies at GM and Chrysler.
A 9.9 million rate would equal May. Sales still havent recovered in terms of sheer volume numbers, but things are stabilizing, Al Castignetti, U.S. vice president for Nissan, said.
"Im not sure if the economy is getting better or worse, but it appears to me that consumer confidence is getting better, and that drives sales," Mr Castignetti said.
Federal Reserve Bank of San Francisco President Janet Yellen said yesterday that the U.S. economy may be about to turn the corner and repeated that she expects the recession, which began in December 2007, to end later this year.
The seasonally adjusted annual auto-sales rate for June was 10.1 million vehicles, based on 7 analyst estimates in a Bloomberg survey.
