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UPDATE 1-Canada auto sales edge up in July, Ford and GM down

Published 2015-08-04, 04:29 p/m
© Reuters. UPDATE 1-Canada auto sales edge up in July, Ford and GM down
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(Adds sales results for Ford, GM, Toyota and Honda)
TORONTO, Aug 4 (Reuters) - Canadian auto sales rose 0.4
percent in July from a year earlier but some major automakers,
including Ford Motor (NYSE:F) Co F.N and General Motors Co (NYSE:GM) GM.N saw
sales decline, according to data compiled by DesRosiers
Automotive Consultants on Tuesday.
Light vehicle sales rose to 177,844 cars and trucks from
177,108 a year earlier, setting a new July sales record.
U.S. auto sales topped expectations in July, keeping the
industry on pace for its best performance since the turn of the
century. But a drop in the price of oil CLc1 LCOc1 has hurt
the Canadian economy. Data released on Friday showed that GDP
shrank for a fifth consecutive month in May. ID:nL1N10B0WC
Fiat Chrysler (NYSE:FCAU) Automobiles' FCHA.MI Canadian unit extended
its sales lead over Ford in July, as sales rose 2.2 percent to
28,611 vehicles. Growth in truck sales more than offset a
decline in car sales, boosted in part by its Jeep brand. Jeep
sales jumped 21 percent.
Ford's Canadian sales fell 6.0 percent to 27,182 vehicles,
as truck sales dropped 8.2 percent from a year earlier. Chief
Executive Dianne Craig said sales are "on track with the overall
business strategy."
GM Canada sales dropped 4.8 percent to 22,826 vehicles as
car sales dropped 12.4 percent and truck sales declined 1.9
percent. The company said sales slowed after a strong
performance in June.
Toyota Canada 7203.T sold 18,344 vehicles, up 1.7 percent,
as a sharp increase in sales of sport utility vehicles boosted
results at Lexus. Lexus sales rose 30.4 percent to 1,863 cars
and trucks.
Honda Canada 7267.T sales jumped 10 percent to 17,599
vehicles. Sales rose 38.6 percent at its Acura division, boosted
in part by its TLX sedan.

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