The U.S. auto industry saw another strong month for auto sales in December as increased consumer confidence positively influenced inventories for auto retailers. According to auto sales data released on Jan. 5 by Autodata Corporation, total auto sales in the U.S. increased by 9% in December. For the last month of the year, total light vehicle sales were 1.6 million resulting in a seasonally adjusted annual sales rate of 17.3 million.
U.S. auto manufacturers General Motors (GM, Financial) and Ford (F, Financial) led sales for the month. For December, General Motors reported total sales of 290,230, while Ford reported total sales of 237,606. For the year, both General Motors and Ford have seen substantial market trading volatility with their stock values down 13.16% and 11%. Broader market measures for auto manufacturers have also been trending lower. For the year, the First Trust Global Auto ETF is down 9.58%, while the NASDAQ OMX Global Auto Index is down 9.83%.
In a recent interview with CNBC, Mike Jackson, CEO of AutoNation (AN, Financial), discussed the December auto sales report and his perspective on auto sales for 2016.
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