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Fiat Chrysler, Ford book higher US auto sales in May, Japanese carmakers lag

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Fiat Chrysler, Ford book higher US auto sales in May, Japanese carmakers lag

Detroit automakers Fiat Chrysler Automobiles NV and Ford Motor Co. reported an increase in U.S. sales during May, while Japanese carmakers posted declining figures.

An S&P Global Market Intelligence analysis found that overall seasonally adjusted U.S. vehicle sales for the period fell to 5.2 million units on an annualized basis, versus 5.99 million units a year ago.

About 3.9 million cars sold in the U.S. were assembled in the U.S., Canada and Mexico, while 1.3 million vehicles sold were produced outside the North American Free Trade Agreement region.

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General Motors Co., the largest Detroit-based carmaker, has stopped reporting its monthly sales numbers. In April, the company had said it will instead switch to quarterly reports.

Fiat Chrysler said sales climbed 11% to 214,294 vehicles, while retail deliveries of 167,785 cars were the highest since July 2005. The company's Jeep brand hit a record for the period by posting a 29% year-over-year increase in U.S. sales.

Ford's sales totaled 242,824 vehicles, a nearly 1% increase from the same period in 2017. Sales for the company's F-Series pickup trucks rose 11.3% year over year to 84,639 vehicles.

Toyota Motor Corp. posted a 1.3% decline in sales. The company sold 215,321 vehicles during the month.

At Nissan Motor Co. Ltd., sales slipped 4% to 131,832 vehicles. The company sold 1,576 LEAF all-electric vehicles, representing a 13% increase from the year-ago period.

Japanese automaker Honda Motor Co. Ltd.'s U.S. unit reported a 2.7% decline in sales to 73,261 vehicles. Overall Honda sales grew 3.1% due to a 9.2% surge in trucks sales at 79,808 vehicles.

German automaker Volkswagen AG sold 31,211 vehicles in the U.S. in May, up 4% from May 2017. Its luxury car unit, Audi AG, sold 19,315 vehicles, a 0.6% rise.

Sales at Daimler AGDaimler AG-owned Mercedes-Benz were up 0.3% to 26,976 vehicles, while sales of rival Bayerische Motoren Werke AG, or BMW Group, surged 3.4% to 30,888 cars.

The interest rate on auto loans climbed year over year in May. The interest rate on loan for a new vehicle rose to 4.11% from 3.93% a year ago, while the rate for a used car loan increased to 4.29% from 4.12% in the corresponding period.

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