Strong SUV, truck demand drive US auto sales higher in June

Strong SUV, truck demand drive US auto sales higher in June

Fiat Chrysler Automobiles NV and Hyundai Motor Co reported a nearly 2per cent rise in U.S. sales for the month of June, helped by strong demand for sport utility vehicles and trucks.

The logo of Fiat carmaker is pictured at a dealership in Orvault near Nantes
The logo of Fiat carmaker is pictured at a dealership in Orvault near Nantes, France, June 3, 2019. REUTERS/Stephane Mahe/Files

REUTERS: Automakers including Fiat Chrysler Automobiles NV and Hyundai Motor Co on Tuesday reported a rise in U.S. sales for June, lifted by strong demand for sport utility vehicles and trucks. Automakers have focused on selling the more profitable larger SUVs and trucks and had offered heavy discounts of up to 30per cent or more on their most popular models in June amid a slowdown in the broader market.

U.S. auto sales are slowing after a long bull-run that has satiated replacement demand.

Fiat Chrysler said its sales rose 1.9per cent to 206,083 vehicles in June, driven by a 45per cent surge in sales of its Ram trucks.

Hyundai said its sales rose 1.5per cent to 64,202 vehicles in the month, boosted by a 36per cent increase in sales of its Santa Fe sport utility vehicles.

GM and Ford are yet to report their sales numbers.

Mitsubishi Motors North America Inc said its June sales rose 10.5per cent to 12,317 vehicles due to an increase in sales of its seven-seater Outlander and Eclipse Cross SUVs.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli and James Emmanuel)

Source: Reuters

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