General Motors and Ford posted surprising U.S. sales declines in July, slowing industrywide growth, as Japanese automakers continued their recovery and Chrysler Group LLC extended its streak of monthly gains.
GM deliveries fell 6.4 percent and Ford light-vehicle sales slipped 3.8 percent, according to statements by the companies on Wednesday. Chrysler, controlled by Italian automaker Fiat SpA, increased deliveries by 13 percent, the company said.
Honda, Toyota and Nissan all posted gains that exceeded analysts’ estimates.
U.S. deliveries probably rose 11 percent in July to 1.17 million, the average estimate of 11 analysts surveyed by Bloomberg. The industry has bolstered the U.S. economy with first-half sales up 15 percent, setting a pace for more than 14 million annual sales and the best year since 2007.
Chrysler, on the rebound since emerging from bankruptcy three years ago, has benefited from newer models such as the Chrysler 200 sedan, Jeep Grand Cherokee sport utility vehicle and Fiat 500 small car.
GM and Ford missed 11 analysts’ average estimates for gains of 2.1 percent and 0.8 percent, respectively. Deliveries to fleet buyers, which include government agencies and rental-car companies, plunged 41 percent for GM and 16 percent for Ford from a year earlier, the companies said.
Honda led major automakers with a 45 percent rise in July deliveries, followed by gains of 26 percent for Toyota and 16 percent for Nissan. Hyundai and Kia combined to sell 4.8 percent more vehicles in July than a year earlier.
