GM: Total U.S. retail sales grew 0.3% while fleet sales declined 4%. Incentive spending was 13.1% of GM’s average transaction price which was 0.5% above the industry average of 12.6%. Inventory supply also increased for GM dealers with days of supply up to 79 days vs. 74 days last year and 74 days last month. Sales for GM’s largest platforms were mixed: Cruze: +8%, Equinoz: -29%, Malibu: +26%, Silverado: -16%, Sierra: -9%.
Fiat Chrysler: Total U.S. sales grew 3% with all of the growth coming from the company's Jeep (+12%) and Dodge (+5%) brands while the Chrysler (-22%) and Fiat (-21%) both declined substantially YoY.
Toyota: Total U.S. sales grew 1.5% with sales of the major platforms mixed: Corolla: +15%, Camry: -11%, RAV4: +9%, Tacoma: +35%, Tundra: +18%.
3) According to public service broadcaster SVT, Ericsson is to announce job cuts of between 3,000 and 4,000 later today. The plants in Borås and Kumla will be the worst affected.