This is the day that automakers report on July sales, and Ford said sales rose 10 percent and posted its best July performance in eight years. The Ford Fusion posted record sales with demand for the Explorer SUV up 32 percent and Escape sales also set a July sales record. Check back tomorrow for a report on a Ford that delivered over 40 mpg.
Chrysler said sales rose 20 percent as the company enjoyed its best July since 2005. Jeep sales rose 41 percent and Ram truck sales were up 14 percent.
In a Tweet this morning Hyundai said it recorded its best July sales ever, with 67,011 vehicles leaving dealer lots, a gain of 1.5 percent year over year with hot demand for the Sonata hybrid.
Please check in right here later today for a complete wrap up on July sales.
Tesla reported earnings that exceeded market expectations and added that sales rose 55 percent year over year. Yet the company reported an overall loss of $62 million or a half dollar per share. Elon Musk said production could not keep up with global demand and he hopes to crank out 100,000 vehicles by the end of next year.
The average transaction price for a new vehicle rose two percent last month, according to Kelley Blue Book to $32,556. One reason is that consumers opted for more luxury cars with KBB saying “shoppers are clearly willing to spend a little extra on the vehicle they want.”
In Europe they measure sales a little differently – it is based on deliveries to customers. Porsche said first half deliveries rose eight percent and revenues were up by 16 percent.