The pace of US auto sales slowed to an annualized rate of 16.8 million, according to Wards Auto.
That was a bit lighter than the 16.9 million rate analysts were expecting.
“Sales jumped 4.5% to 17.1 million units annualized in November, second highest since 2006 after 17.4 in August, helped by successful Black Friday promotions,” Morgan Stanley’s Ted Wieseman noted on Friday. “Black Friday weekend has become a big deal for the industry the past couple years after auto dealers previously hadn’t generally been active participants in the post-Thanksgiving sales frenzy. Last year there was some payback in December from sales pulled into late November, but stepped up discounting and support from plunging gasoline prices appear to kept sales elevated this year.”
The Detroit 3 had a healthy month of auto sales in December.
GM sales surged by 19.3%, smashing expectations for a 13% gain.
Chrysler saw US auto sales jump 20% in December. However, it was a bit lower than the 23% surge expected.
Ford sales increased by 1.3%, which was a bit lighter than the 2.8% gain expected.
Still, December was a pretty good month for sales.
Here’s a tally of the numbers so far (Click Here For Live Updates):
- Chrysler: +20%, (+23% estimated)
- GM: +19.3% (13% est.)
- Ford: +1.3% (2.8% est.)
- Toyota: +12.7% (14% est.)
- Nissan: +6.9%, (6.0% est.)
- Honda: +1.5%, (+6.3% est.)
- Suburu: +10.5%
- Kia: +30.3%
- BMW: +9.5%
Business Insider Emails & Alerts
Site highlights each day to your inbox.