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Sept. 5, 2019, 2:00 p.m. EDT

August auto sales 'better than expected,' Evercore says

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By Claudia Assis
GM F SPX

Annualized August auto sales in the U.S. were "better than expected" and up 2% year-on-year at 17 million vehicles, equal to a three-month average, analysts at Evercore ISI said in a note Thursday. The analysts estimated that General Motors Co. /zigman2/quotes/205226835/composite GM -3.00% sales rose 17% on the strength of its pickup truck sales and Ford sales fell 7%. GM reports quarterly sales only, while Ford Motor Co. /zigman2/quotes/208911460/composite F -2.39% has yet to offer official word on its August sales. The analysts said they continue to prefer GM over Ford, a position they took last month. Evercore has called for annualized auto sales around 17 million for the year, which would be a 1.5% decline over last year's numbers. Shares of GM have gained 17% this year, compared with 22% gains for Ford in the same period and gains of 19% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX +0.48%

/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 25.88
-0.80 -3.00%
Volume: 22.22M
May 29, 2020 4:00p
P/E Ratio
7.92
Dividend Yield
0.00%
Market Cap
$37.04 billion
Rev. per Employee
$849,994
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/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 5.71
-0.14 -2.39%
Volume: 93.04M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$22.71 billion
Rev. per Employee
$805,719
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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