As I previewed, U.S. new vehicle sales rebounded in December and came above expectations. According to Wards data, they increased by 4.6% MoM to 16.27m SAAR, up from 15.55m in November. In this context, the auto sector will contribute positively to December retail sales that will be released on January 15th. However, eight months weren’t enough for the industry to fully recover from the Covid crisis.
Focusing on specific brands, General Motors said its vehicle sales in the United States fell 12 percent in 2020, but increased 5 percent in the fourth quarter from the same period a year earlier
In the meantime, Fiat Chrysler’s U.S. sales tumbled 17.4% last year compared with 2019. Sales weren’t quite as bad in the fourth quarter, falling 7.9% compared with the same period in 2019.
Finally, CNBC reported that “Toyota Motor reported its U.S. sales declined 11.2% last year compared with 2019, while Nissan Motor said its sales cratered 33.2%.”
