April Auto Sales Set Up Strong, AutoData Figures Confirm

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.