Sonic Auto (SAH), AutoNation (AN) Sales Data May Bode Well for Automakers (F) (GM) (TM)
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Price: $77.45 -0.42%
Financial Fact:
Income from continuing operations: 18.97M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Income from continuing operations: 18.97M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Sonic Automotive Inc. (NYSE: SAH) reported Q2 EPS of 47 cents and revenue of $2.19 billion, versus EPS expectations of 41 cents and revs of $2.18 billion.
New vehicle sales rose 22 percent to 34,396 units, while fleet sales dropped 24 percent to 1,630 units.
Numbers follow a report from AutoNation (NYSE: AN) last Thursday, which had the venerable car seller topping second-quarter earnings expectations by 7 cents per share. For AutoNation, Domestic new unit sales rose 17 percent while Import sales rose 44 percent.
New and used vehicle sales, as well as domestic for AutoNation, include brands such as General Motors (NYSE: GM) and Ford (NYSE: F). AutoNation puts Toyota (NYSE: TM), Honda (NYSE: HMC), and Volkswagen into the Import category.
Whether data from the two auto sales giants will benefit automakers is uncertain. For Toyota, aftermath of the March 2011 tsunami is finally easing, allowing for stronger U.S. sales, which have been evident over the last several months. Toyota's 11.6 percent in April, 87 percent in May, and 60.3 percent in June, with the latter number missing estimates calling for a 66 percent jump.
Ford and General Motors are going up against tougher comps from 2011, when economic recovery was all but at its strongest.
New vehicle sales rose 22 percent to 34,396 units, while fleet sales dropped 24 percent to 1,630 units.
Numbers follow a report from AutoNation (NYSE: AN) last Thursday, which had the venerable car seller topping second-quarter earnings expectations by 7 cents per share. For AutoNation, Domestic new unit sales rose 17 percent while Import sales rose 44 percent.
New and used vehicle sales, as well as domestic for AutoNation, include brands such as General Motors (NYSE: GM) and Ford (NYSE: F). AutoNation puts Toyota (NYSE: TM), Honda (NYSE: HMC), and Volkswagen into the Import category.
Whether data from the two auto sales giants will benefit automakers is uncertain. For Toyota, aftermath of the March 2011 tsunami is finally easing, allowing for stronger U.S. sales, which have been evident over the last several months. Toyota's 11.6 percent in April, 87 percent in May, and 60.3 percent in June, with the latter number missing estimates calling for a 66 percent jump.
Ford and General Motors are going up against tougher comps from 2011, when economic recovery was all but at its strongest.
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