SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Jul 4, 2012) - The auto industry has seen a slow but steady recovery since the lows of 2009. Auto sales in June rose to an annualized sales rate of 14.1 million vehicles according to Autodata Corp. Shares of U.S. automakers surged Tuesday after General Motors Co., Ford Motor Co. and Chrysler Group LLC reported auto sales for June that beat analysts' estimates. The Paragon Report examines investing opportunities in the Auto Manufacturers Industry and provides equity research on Toyota Motor Corporation (NYSE: TM) and Honda Motor Company Ltd. (NYSE: HMC).
Access to the full company reports can be found at:
"A lot of analysts -- ourselves included -- were cautious going into June with the unemployment rate inching up, consumer confidence dropping and the volatility going on in Europe," Alec Gutierrez, an analyst at Kelley Blue Book, said in a telephone interview. "It's just a testament to the strength of consumer demand for new vehicles despite all the negative news out there."
Auto sales have seen a slow but steady recovery since hitting a 27-year low of 10.4 million vehicles in 2009. U.S. auto sales are currently on pace for their best year since 2007, when 16.1 million vehicles were sold.
Paragon Report releases regular market updates on the Auto Manufacturers Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Toyota in June posted a 60 percent gain June, which was below the analysts' average estimate of 66 percent according to Bloomberg. Toyota Motor Corporation and the BMW Group recently signed a memorandum of understanding (MoU) aimed at a long-term strategic collaboration in four fields: joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and development on lightweight technologies.
Honda Motors sales gain of 49 percent in June was just under the analysts' average estimate of 51 percent according to Bloomberg. The company recently announced that it has set an all-time monthly record for automobile production outside of Japan with 283,576 vehicles produced in May.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.ParagonReport.com/disclaimer