Ford & General Motors - Conference Call Transcript - US Vehicle Sales

GM:

General Motors is recording June sales of 264,843 vehicles that's up 6.5% versus June of 2012 are up 10.6% after adjusting for one fewer selling day this year. This marks our best sales month since September of 2008. Now you'll probably recall the same headline from last month and we view that as a good thing. Sequentially we're up 4.7% from May. 

Chevrolet also had it's best total sales month since September of 2007, including a 66% increase in Mini, small and compact car sales. Looking at the name plate level, a lot of attention has being focused on newest products like the Cadillac ATS, the Buick Core and the Chevrolet Spark and rightly so all of them are in segments where we didn't compete before and seeing strong conquest rates. There is also the all new 2014 Chevrolet and Palo which drove a 62% increase in retail sales for the name plate. 

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F:

For the first six months of this year, our retail sales for small cars are up 39% in the LA region. Our fastest retail growth area for small cars is in San Francisco area which was up 48% in the first half at retail, followed closely by Seattle, where retail sales are up 41%. Fusion had an incredible month with 24,313 vehicles sold. This was only 120 vehicles shy of last year's monthly record, this was accomplished within stock levels including some regions now under a 30 days supply. 

New home sales grew by 29% in May averaging 29.5% during the first five months of this year. Note that this growth is supply constrained and month supply is now at low 4.1 month. About two months higher than the historical average of 6.2 months of supply. While existing home sales May was another good month with sales up 12.9% compared with the year ago, supply is also tight at 5.2 months. Housing starts and permits are also trending higher was increases of 28.9% for start and 25.1% for permit.

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