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Auto and Truck Sales to be released on June 3

Posted June 2, 2008

Auto and Truck Sales numbers for May will be released at noon. They measure monthly sales of domestically produced vehicles and are considered an indicator of consumer demand.

by J. Christoph Amberger

Baltimore — (TFN): At noon, Auto and Truck Sales numbers for May will be released. These numbers measure monthly sales of all domestically produced vehicles and are considered an indicator of high-ticket consumer demand. Automotive sales account for about 25% of total retail sales. (For a more detailed description, check out Yahoo’s Economic Calendar Terms.)

Ford (F:NYSE) may have just sold its British car brands to India’s Tata Motors — netting a mere $1.7 billion, about a third of what it paid for the two luxury brands. But Monday’s -2.35% drop in the stock price (down to $6.64) is not boding well for Ford’s sales numbers… accelerating the company’s slide to become a penny stock. The Tata deal, however, ought to pad overall Q2 numbers, which makes Ford a promising if limited short-term speculation.

Buy the stock AFTER the release of the May sales numbers. (We’ll say “when”…)

A volume spike in General Motors (GM:NYSE) stock was attributed to analysts expecting deep production cuts in pickup trucks and SUVs in North America, as well as drastic price incentives to move inventory. The stock rose 2% on Monday. This could be an indication that sales may not come in as bad as expected.

While Toyota Motors (TM:NYSE) keeps reiterating reduced expectations for 2008 U.S. sales, but the price curve of the last two trading days indicates that previous-month sales will come in at better-than-expected levels.

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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