Ford Light-Vehicle Sales Strongest in Months

Riding its strongest car sales in months, Ford Motor Co. reported a 4.7% increase in U.S. light-vehicle sales for June, the lone bright spot in an otherwise dim month for Detroit’s Big Three auto makers. Ford’s improving numbers came as total U.S. industry light-vehicle sales dipped 3.4% to 1,326,385 in June, a slightly better showing than analysts had predicted. Earlier this week, General Motors Corp. said light-vehicle sales fell 13.5%. Chrysler Corp. reported a 4% sales decline. Total industry light-vehicle sales for the first half of 1997 were down 1.4%, as a soft second quarter offset higher-than-expected sales in the first three months. The June results were not enough to prompt most industry executives to alter their forecasts. “All of the economic and consumer data that we have seen suggests this sales level will continue in the second half of 1997,” a Ford executive said. The seasonally adjusted annual sales rate for the month was 14.3 million units, the lowest since October 1995. Shares of Dearborn, Mich.-based Ford rose 12.5 cents to close at $40 on the New York Stock Exchange.