Ford reports higher Canadian auto sales for July

Wed Aug 3, 2016 1:56pm EDT
 
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MONTREAL Aug 3 (Reuters) - Ford Motor Co on Wednesday reported higher Canadian auto sales for July, on an annual basis, as forecasters expect another record-breaking year for the sector in Canada.

Ford reported a total of 29,778 vehicles sold in July, up 9.6 percent compared with the same month in 2015.

Ford's numbers follow a record-breaking June for the sector with auto sales rising 7.4 percent to 191,088 on an annual basis, according to Canadian auto analyst Dennis DesRosiers. According to a June report by Scotiabank, Canadian auto sales are expected to rise to 1.96 million vehicles in 2016, up from a record-breaking 1.90 million units last year.

On Tuesday, the biggest automakers in the United States reported July U.S. sales that disappointed Wall Street as skittish investors feared the industry's long streak of strong sales may soon be over, sending their shares skidding about 4 percent. (Reporting By Allison Lampert; Editing by Meredith Mazzilli)