NEW YORK, NY / ACCESSWIRE / May 3, 2017 / Weaker car sales in the U.S. last month drove many car stocks down. General Motors and Ford were among many others including Ford, Toyota, Fiat Chrysler, Honda, and Nissan, to report weaker sales in the U.S. last month compared to a year ago. According to Kelley Blue Book, U.S. sales this year will come in below the record 17.5 million that was seen last year. It will be the first annual sales drop since 2009.

RDI Initiates Coverage on:

Ford Motor Company
https://ub.rdinvesting.com/news/?ticker=F

General Motors Company
https://ub.rdinvesting.com/news/?ticker=GM

Ford Motor Company closed down 4.38% yesterday and hit a new 52-week low of $10.90 after the car maker reported sluggish sales for the month of April. Despite a positive earnings beat last week, investors were not thrilled with last month's decrease in sales. U.S. sales for the company dropped 7.2%. This was way worse than the 5.6% that analysts had expected. Ford saw its car sales drop 21%. Traders showed concerns over the U.S. car market being in a slump which sent shares into the red. It was just last week that Ford beat analyst expectations with its quarterly profit. CFO Bob Shanks did however tell reporters at Ford's Dearborn Michigan headquarters that the first quarter was the "toughest quarter" for 2017. Vice President of Sales and Marketing Mark LaNeve doesn't seem too nervous about April's decline. He told analysts, "We have to let the year play out. In a plateauing industry you're going to have some months that are up and some that are down."

Access RDI's Ford Research Report at:

https://ub.rdinvesting.com/news/?ticker=F

Shares of GM closed down 2.92% on Tuesday after the company reported a decline in April new vehicle deliveries. The company reported 244,046 new U.S. vehicle deliveries for last month, which was a 5.8% decrease from last April. Despite the gain, the company saw sales driven by strong sales in crossovers across Chevrolet, Buick, GMC, and Cadillac. U.S. vice president of Sales Operations Kurt McNeil commented, "We see crossovers becoming an even bigger part of the industry and GM sales over the next five years. Just five years ago, about one in four GM sales were crossovers. Today, they account for almost one-third of our deliveries and we see more growth ahead." General Motors saw U.S. sales increase by 1% to 933,927 units in the first four months of the year.

Access RDI's General Motors Research Report at:
https://ub.rdinvesting.com/news/?ticker=GM

Our Actionable Research on Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) can be downloaded free of charge at Research Driven Investing.

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