US auto sales in December 2017
According to data compiled by Autodata, December 2017 US auto sales (IYK) stood at 1.6 million vehicle units, about 5.2% lower than the US auto sales of ~1.7 million vehicle units in December 2016. However, total US vehicle sales in December were much higher than the 1.4 million vehicle units in November 2017.
Truck sales strengthened
In December 2017, US small car sales continued to drop significantly by 17% YoY (year-over-year) to 0.52 million units. In contrast, UVs (utility vehicles) and truck sales went up to 1.1 million units, an increase of 1.3% YoY. In November 2017, truck sales were also strong with a 7.9% rise YoY to 0.92 million units. US auto sales in 2017 were down 1.8% as compared to 2016. While car sales in the country fell 0.9%, YoY truck sales jumped up 4.3% YoY.
In the last couple of months, US consumer sentiment has been near its highest level since 2004. In general, strength in consumer sentiment typically reflects consumer optimism about the economy, which is positive for auto demand.
The US is the second largest auto market in the world after China, and it is also the largest single auto market in North America. Mainstream automakers such as Ford (F), Toyota (TM), Fiat Chrysler Automobiles (FCAU), and General Motors (GM) generate a large portion of their revenues from the US market.
In this series
In this series, we’ll explore the December 2017 US sales figures of key auto companies. We’ll find out what these sales figures could mean for these automakers’ future growth. We’ll also learn what analysts are recommending for these US automaker stocks after their December sales data.
We’ll begin by learning about Ford’s December 2017 US sales data in the next part.