U.S. auto sales did not exactly start 2016 with the right foot. However, they seem to be recuperating as the year advances, as light-vehicle sales ride the wave of low gas prices, cheap credit and an ameliorating consumer sentiment. In fact, analysts were expecting auto sales to surge 5 percent in April. With AutoData’s figures just out, they now know sales reached 17.4 million units, up 5.7 percent year-over-year.
According to WardsAuto, some of the categories that benefited the most from low gas prices were trucks and SUVs, for which the firm is modeling a 7 percent sales growth rate. On the other hand, the experts are estimating that passenger car sales tumbled 6 percent over April. One more interesting detail: as per Kelley Blue Book data, the average transaction price increased by roughly 1.9 percent over the month, to $33,865 per light vehicle.
Now, let’s take a look at company-specific sales - as per company data:
- Mitsubishi Motors North America posted April Sales of 9,674 units, up 17.7 percent year-over-year.
- Honda Motor Co Ltd (ADR) HMC said April sales had risen 14.4 percent, to 148,829 Honda & Acura vehicles.
- Mazda’s April U.S. sales escalated 8.6 percent, to 26,195 vehicles
- KIA MOTORS CORP KRW5000 KIMTF reported April U.S. auto sales of ~56.5K Units, up 6.1 percent year-over-year.
- Fiat Chrysler Automobiles NV FCAU posted a 6 percent surge in April U.S. auto sales
- Ford Motor Company F said it had sold a total of 231,316 vehicles in the U.S. in April, up 4 percent year-over-year.
- Toyota Motor Corp (ADR) TM April sales spiked up 3.8 percent
- General Motors Company GM reported a 3.5 percent decline in U.S. auto sales
- Volkswagen of America retrieved a 9.65 percent decline in April U.S. auto sales.
Interestingly, the recently-issued AutoData information does not match that provided by the companies themselves. This is what the analysts found out:
- Honda sales were up 14.4 percent, versus the 10 percent estimate
- Nissan sales were up 12.8 percent, versus the 11 percent estimate
- Subaru of America sales were up 6.6 percent
- Fiat Chrysler sales were up 5.6 percent, above the 4.3 percent estimate
- Toyota sales were up 3.8 percent, versus the 3.6 percent estimate
- Ford sales were up 3.6 percent, versus the 3.8 percent estimate
- Mercedes-Benz sales were up 0.2 percent
- GM sales were down 3.5 percent, versus the -1.7 percent estimate
- BMW sales were down 8.3 percent
- Hyundai sales were down 8.5 percent
- VW sales were down 9.65 percent
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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