The big carmakers are releasing their numbers on US auto sales throughout Tuesday.
According to Autodata’s estimate (cited by CNBC’s Phil LeBeau) based on the data available so far, domestic vehicle sales grew at an annualized pace of 18.19 million in November.
Analysts had forecast an annualized pace of 18.10 million, according to Bloomberg.
Unless December’s numbers come in really bad, US auto sales could achieve a record year. The previous record, set in 2000, was 17.4 million, and the pace of sales has crossed 18 million since then although we’ve never finished a year at that level.
Business Insider’s Matt DeBord broke down the four main reasons why auto sales have been so strong in 2015.
In short, lots of people have lots of old cars (11 years old on average), gas is cheap, it’s easier to access credit, and there are plenty of jobs.
« In recent years, we have seen automakers make greater use of Black Friday temporary deals to drive auto sales and we expect this trend to continue this year, » RBC Capital’s Joseph Spak said in a client preview. « The focus will be on VW sales following the « dieselgate » crisis, which we expect will be pressured. »
Here are the latest numbers:
- Fiat Chrysler: +3% (+3.2 expected)
- Nissan: +3.8% (2.6% expected)
- Ford: +0.3% (3.2% expected)
- GM: +1.5% (+2.9% expected)
- Honda: -5.2% (-1.5% expected)
- Volkswagen of America: -24.7%
- Toyota: +3.4% (+2.4% expected)
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