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Fiat Chrysler and General Motors sales slip in October

Wednesday, Nov 02, 2016

Fiat Chrysler Automobiles and General Motors Co on Tuesday reported lower October sales for Canada, while rival Ford Motor Co put off releasing its figures to later in the week.

Analysts expected Canadian auto sales to set a new record in 2016, rising to 1.96 million vehicles in 2016, up from a record-breaking 1.90 million units last year. But after a strong first half, sales have declined in September and August on an annual basis.

General Motors said in a statement it delivered 22,219 vehicles in October, down 9 percent compared with the same month in 2015, which had two more selling days. Year-to-date, GM's Canadian sales are up 1 percent compared with the first 10 months of 2015.

FCA reported October sales in Canada of 19,527 vehicles, down 11 percent from 22,031 units during the same month in 2015, hurt in part by weaker demand for its Ram pickup trucks, the company said in a statement.

Year-to-date, the automaker reported sales of 239,185 vehicles, down 4 percent compared with 248,522 units during the same period last year.

However, Honda Motor Co Ltd said its Canadian sales rose 2 percent in October to 17,270 vehicles.

In the United States, Fiat Chrysler sales slid 10 percent, including a rare decrease for its Jeep SUV brand, which saw a 7 percent decline.

GM's October sales fell a less-than-forecast 1.7 percent as hefty gains for pickups and SUVs offset declines for its sedans. Overall U.S. auto sales were seen declining between 6 percent and 8 percent in October.

 

Source : reuters.com

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