There was an increase of 7.7 percent for General Motors as 214,915 units were sold in comparison to the 199,602 from the same month last year. The second quarter for General Motors was a positive one with profits of $2.5 billion. On average, General Motors made a profit of about $2,800 on every vehicle that was produced in North America. GM made about $500 more on its vehicles than Ford Motor Corp.
All members of the Detroit Three went down in market share percentage. Dropping only 0.16 percent in market share, GM still sits on top with 20.28 percent of the market while Ford Motor Corp dropped just a little over one percent and Chrysler Group lost less than one percent.
With Chrysler Group dropping to 10.57 percent in market share, Toyota Motor Corp took third place with 12.34 percent, which was almost a two percent increase from last month. MI dealers may realize that although this may seem like a small increase, it is a huge accomplishment for Toyota considering the company dropped 99 percent in profit from the same time last year and still took a two percent gain in market share.
Toyota Motor Corp
Toyota Motor Corp decreased 22.87 percent in sales with only 130,802 units sold from the 169,224 from last July. The corporation may still be recovering as only eight of the 12 vehicles built in North America are at full production. The other four are planned to be back to 100 percent by the end of September, according to Toyota.
Ford Motor Corp
MI dealers may have heard Ford increased 8.7 percent this year over last with 180,315 units sold compared to the 165,889 from last July. The two vehicles that added to this increase were the Fiesta and the Fusion. There were 5,296 Fiesta sales for July, up 58 percent from last year, and 19,318 Fusion sales, which was a record for July.
Of the Detroit Three, Chrysler may have been the weakest of the three, but this month Chrysler hit 16 months of consistent increases as well as the best since 2007. Vehicles that added a lot to the success of the month of July for Chrysler were the Chrysler 200, which was up 111 percent, the Jeep Compass, up 240 percent, and the Fiat 500, which was up 68 percent for the month.
MI dealers may celebrate the month of July, but analysts believe the industry should be cautious as the second half of the year may not bring a high of numbers as the first.
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[Source(s): The Detroit News, Ford Media]