Top U.S. Automakers Report Higher Sales in June

Top U.S. automakers reported stronger June sales, as consumers continued to snap up sport utility vehicles and trucks in larger numbers, parking for now worries about rising fuel prices, higher interest rates and trade tensions.

Investors have sold off shares in Detroit automakers General Motors Co, Ford Motor Co. and Fiat Chrysler Automobiles during the past month. Rising tensions between the United States and its trade partners and threats of tit-for-tat auto tariffs have rattled the auto sector, adding to worries that the U.S. auto industry’s nine-year recovery from the 2008 financial crisis must soon end.

Still, June was a solid month for vehicle demand in the United States, and especially for the SUVs and large pickups that generate the bulk of global profits for the Detroit Three.

Click to continue reading this Reuters article.

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