With global light-vehicle sales due out on Tuesday, Buckingham Research analyst Joseph Amaturo released a new report previewing what investors can expect and outlining the firm’s take on General Motors Company GM and Ford Motor Company F.
Amaturo is projecting U.S. light vehicle SAAR of 16.7 million units for January, up 2.9 percent over last year’s number.
“Although this represents a significant deterioration from current levels, we believe sales demand will pick up in February/March, as much of the country was hit by inclement weather conditions during the back half of the month,” he explained.
While the relatively weak January numbers may come as a disappointment to investors, Amaturo noted that Buckingham sees this weakness as a plateau in the market and not a peak.
Buckingham maintains a Buy rating on General Motors and predicts 8.5 percent sales growth from the company compared to -9.0 percent sales growth for Neutral-rated Ford.
Disclosure: The author holds no position in the stocks mentioned.
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