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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 -0.06% 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 +1.98% 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 -0.39%

/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 36.17
-0.02 -0.06%
Volume: 6.86M
Oct. 18, 2019 6:30p
P/E Ratio
5.76
Dividend Yield
4.20%
Market Cap
$51.64 billion
Rev. per Employee
$849,994
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/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 9.29
+0.18 +1.98%
Volume: 42.43M
Oct. 18, 2019 6:30p
P/E Ratio
16.84
Dividend Yield
6.46%
Market Cap
$37.07 billion
Rev. per Employee
$805,719
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/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
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