Ford Motor Co. and Chrysler Group LLC overcame a quirk in the industry sales calendar to post surprise U.S. gains for September while future growth may be challenged by the government shutdown that began today.
The 17% surge in U.S. auto sales last month pushed the annual rate to a pre-recession, boom-time level. Even more significant, Detroit automakers are reaping profits not seen since the turn of the century.
Chrysler Group LLC and Ford Motor Co. said U.S. sales rose more than analysts’ estimates in August as the automakers prepare new car models such as the Dodge Dart and Ford Fusion to build on gains earlier this year.
General Motors Co., Toyota Motor Corp., Chrysler Group LLC and Nissan Motor Co. reported U.S. sales gains in May that trailed estimates as incentive offers failed to draw enough buyers amid slumping job growth.