Detroit's leading auto makers on Monday reported growth in US vehicle sales for May, aided by robust demand for pickup trucks and sport-utility vehicles. While General Motors Co. (GM) posted growth of over 3 percent, Ford Motor Co. (F) grew an impressive 14 percent, and Chrysler Group LLC was up 11 percent.
The results come as customers' enthusiasm for sport-utility vehicles gain momentum, and pickup trucks demand improve amid a recovery in the US housing market.
General Motors, the largest US automaker, said that total US vehicle sales for May increased 3.1 percent to 252,894 units from 245,256 units in the prior year. Retail sales climbed 9 percent, while fleet sales were down 10 percent.
GM's trucks sales were up 15 percent from a year ago, including a 23 percent increase for large pickups and a 30 percent increase for large SUVs.
Cadillac brand achieved a nearly 40 percent increase, and Chevrolet brand rose about 1 percent. GMC sales were up 7 percent, while Buick slid 3.1 percent.
Ford Motor Co. (F) said that its May US sales rose 14 percent to 246,585 vehicles from 216,267 vehicles last year.
Car sales grew 9.4 percent to 87,428 units from last year, while truck sales increased about 18 percent to 88,450 units, and utilities rose 15.4 percent to 70,707 units.
Ford's Escape delivered its best month ever, with sales up 26 percent from a year ago. Fusion sales climbed 10 percent, while F-Series, America's best-selling pickup for 36 years, surged 31 percent.
Ford announced its 2013 third-quarter North American production. The company plans to build 740,000 vehicles in the third quarter, up 10 percent from the prior year. The company said second quarter production of 800,000 vehicles is unchanged from previous guidance.
Chrysler Group LLC, majority-owned by Italian carmaker Fiat SpA (FIATY.PK), said its US vehicle sales for May increased 11 percent to 166,596 units from 150,041 units in the prior year.
Total car sales for the month rose 16 percent to 54,351 units, and total truck sales grew 9 percent to 112,245 units.
Sales of Ram Truck brand were up 24 percent, and Dodge brand climbed 23 percent. Jeep Brand and Fiat Brand each gained 1 percent, while Chrysler Brand sales were down 2 percent.
Meanwhile, Japanese automaker Toyota Motor Corp. (TM) reported a 2.5 percent rise in May US vehicle sales to 207,952 units.
GM shares are trading at $33.88, down 0.03%, on a volume of 10.7 million shares on the NYSE.
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