Photo: Flickr/John Hritz
Markets are waiting intently on total vehicle sales tomorrow, with expectations for a headline figure possibly above 1 million units for the month.Analysts polled by Bloomberg forecast the seasonally adjusted annual rate of sales will decline slightly from last month’s surprisingly strong 15.03 million reading. Consensus for March currently calls for a 14.60 million pace.
A year ago global automakers reported a seasonal pace of sales of 13.0 million.
“In terms of automaker performance, we are seeing good retail momentum out of Chrysler (again) and Ford with softer performance from GM,” Citi’s Itay Michaeli said. “Recall that our mid-month pricing checks were also encouraging and highlighted Ford as a stand-out on solid YoY price momentum and generally tame incentive activity.”
Michaeli has called for a slightly below consensus pace of 14.4 million units in March, but reiterated that he could not rule out a 15 million SAAR reading for the month.
Business Insider will be covering the release live in the morning following Chrysler’s announcement.
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