The Week Ahead
Monday, July 6 Copyright Sales of cars and light trucks probably added up to an annual rate of 15.7 million for June, says the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies. Although Chrysler Corp. and General Motors Corp. will release their sales earlier in the month, the final total will not be calculated until Ford Motor Co. reports on July 6. In May, motor-vehicle sales increased 5.2% to a 16.2 million pace, thanks in part to rebates and other sales incentives. Car-buying accounted for one-quarter of the 0.4% gain in real consumer spending in May. After such a runup, June sales were expected to be softer. Plus, the ongoing strike at GM probably held back sales as dealers ran out of some of GM's more popular models.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.