U.S. consumer spending probably slowed in August, reflecting growing pessimism among households that may further restrain the biggest part of the economy, economists said reports this week will show.
Ford Motor Co. said U.S. sales of pickups are at their highest pace since December on declining fuel prices.
Ford Motor Co. said U.S. auto sales in December are running at a 12 million unit annual rate, and it forecast sales to rise to almost 13 million next year.
Ford Motor Co. said U.S. sales rose less in July than analysts’ estimated, while Toyota Motor Corp. and Honda Motor Co. posted declines amid less consumer spending.
Ford Motor Co., poised to begin negotiations with the United Auto Workers, may report lower second-quarter profit tomorrow on rising costs for commodities and developing new vehicles.
General Motors Co . and Ford Motor Co ., the largest U.S. automakers, said the recovery in their home market may continue in the face of Japan’s disaster.
U.S. auto sales in June ran at the slowest pace in 12 months, as small-car supply dwindled, Toyota Motor Corp.’s inventory thinned and consumers deferred purchases amid a slowing economic recovery.
U.S. auto sales probably rebounded in June after a slowdown in May, a recovery limited by shortages of vehicles from Toyota Motor Corp. and Honda Motor Co. that led some would-be consumers to put off buying.
U.S. automobile sales in January may have reached the second-fastest pace in 17 months, aided by rising business spending and consumer confidence.
U.S. auto sales in August probably were the slowest for the month in 28 years as model-year closeout deals failed to entice consumers concerned the economy is worsening and they may lose their jobs.
"We had to hold some back because the numbers got so obscene."
- George Pipas on Aug 26, 2012