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Two big US automakers beat sales expectations

Posted by matt golab on

US auto sales rose less than forecast in June, extending a soft patch that's characterized this year. Sales rose at a seasonally adjusted annual rate of 16.51 million, CNBC reported. Sales fell 13.2% year-on-year, Autodata said. Economists had forecast that total vehicle sales rose at a seasonally adjusted annual rate of 16.58 million, according to Bloomberg. Auto sales have slowed every month this year following seven straight years of record-setting volumes. And this suggests that the market has plateaued for now.  GM, the second-largest US carmaker by market cap, hinted at that last week when it cut its outlook for new vehicle sales. The carmaker said US sales...

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