Zacks.com releases the latest Analyst Interview. Today's interview is with Director of Equity Research Paul Raman, who discusses General Motors (NYSE:GM), Ford (NYSE:F) and DaimlerChrysler (NYSE:DCX).
A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678.
What is new in the automotive industry these days?
June automotive sales released just a couple days ago confirmed the basic trends that have been present for the past several months: U.S. producers are losing market share. Overall U.S. sales declined 10.5% in June and are down 2.4% YTD, due to the negative effect of higher interest rates.
How did the automakers perform in relation to each other?
General Motors (NYSE:GM) sales fell 26% in June and are down 12.3% YTD. Ford (NYSE:F) sales are down 7.1% in June and down 4.1% YTD, with Explorer and Expedition sales being particularly weak. The Mustang and Fusion kept the decline from being worse. SUV sales were weak at both companies due to higher gas prices. DaimlerChrysler (NYSE:DCX) sales were down 13.2% in June and down 3.3% YTD. Comparisons were all affected by the positive impact of employee-pricing plans one year ago.
Read the full interview at http://at.zacks.com/?id=2647.
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