Cadillac has biggest sales gain since 1970s
Cadillac has had its biggest gain so far this year since 1976, when Gerald Ford was president, the U.S. celebrated its 200th birthday and "The Hustle" won a Grammy. Through May, Cadillac sales increased 38 percent to 69,750 vehicles sold. That was the brand's biggest year-to-date increase since 1976, when sales jumped 45 percent to 135,258. General Motors is counting on Cadillac to help increase its profit with sales to higher-income buyers. GM ranks fourth in U.S. luxury-vehicle sales, behind Mercedes-Benz, BMW and Lexus.
— Bloomberg News
Luxury sales cut into summer plant closures
Two weeks after the Detroit automakers announced that they are shortening the traditional two-week summer break at their factories, Daimler says it will skip summer breaks at most of its factories in Germany, Hungary, South Africa and China. Models such as the revamped Mercedes-Benz E-Class are keeping assembly lines busy. German luxury cars have been the exception to shrinking European-auto sales. Ford will shut 21 of its North American factories for only one week this summer, while General Motors plans to idle its factories only for short periods, and Chrysler plans a two-week break at just four of its 10 North American plants.
— Wire reports