KEY POINTS
- Fiat Chrysler, the No. 4 automaker in the United States, reported a 2.1% rise in sales to 218,702 vehicles.
- Japanese automaker Toyota sold 222,174 vehicles, recording a 3.2% rise.
- S. auto sales are expected to be about 16.9 million units in 2019, a 2.5% fall from 2018.
Major automakers on Monday posted higher U.S. new vehicle sales for May, the first increase for 2019 as a strong economy and upbeat consumer sentiment fueled demand.
KEY POINTS
- The Caixin/Markit factory Purchasing Managers’ Index for May was 50.2, slightly above the 50 level which analysts polled by Reuters had expected. The PMI reading for April was 50.2.
- PMI readings above 50 indicate expansion, while those below that signal contraction.
- Growth of new orders grew in May, and the rate of new business growth quickened slightly in the last month, Caixin said in a statement on Monday.
- Says unreasonable U.S. demands led to the collapse of talks
- China’s prerequisites for any deal are unchanged: Wang Shouwen
China’s government says it’s willing to work with the U.S. to end an escalating trade war but blames President Donald Trump’s administration for the collapse in talks and won’t be pressured into concessions.
SINGAPORE (Reuters) - Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown.
TOKYO (Reuters) - Shares in Japan’s major automakers sank on Friday after U.S. President Donald Trump said the United States will impose a 5% tariff on all imports from Mexico from next month, as the move was seen affecting vehicles made in Mexico and sold north of the border.
BEIJING (Reuters) - China’s factory activity shrank more than expected in May, an official survey showed on Friday, heaping pressure on Beijing to roll out more stimulus to support an economy hit by a bruising trade war with the United States.