Citi Comments on Domestic Automakers

Domestic automakers reported in-line to slightly better sales, “with Detroit 3 share nearing 50% in May vs. 46% in April,” Citi reports. “Ford F reported that its transaction prices rose 4% YoY in the face of significant mix headwinds, suggesting that underlying pricing continues to strengthen,” Citi writes. “Ford's Q3 N.A. production forecast of 630k units was right in-line with our 636k, or up 8% YoY.” Ford closed Wednesday at $14.23.