USA auto sales dip for 1st time since '09

USA auto sales dip for 1st time since '09

(F) said that U.S. Sales for the month of December 2017 rose 0.9% to 242,049 vehicles from 239,854 vehicles in the same month a year ago.

At GM, Cadillac declined 28.6 percent and Chevrolet was down 2.9 percent.

Most major automakers on Wednesday reported lower December US sales and forecast weaker overall sales in 2018, but investors bid up shares in the sector on a bet that high-margin pickup trucks and SUVs will pull Detroit's automakers through any downturn. Most companies beat or matched estimates thanks to a strong close to the year for pickup models that are helping them command record prices, according to car-shopping website Kelley Blue Book.

2017 Ford F-150 Limited. Ram Truck sales were up year-over-year in 2017 versus 2016.

Fiat Chrysler Automobiles NV, which reported deliveries that were in line with analyst estimates, climbed as much as 3.1% NY trading, while GM jumped as much as 2.8%.

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Toyota saw USA sales drop 0.6 percent to 2.4 million, but the company highlighted strength in its popular Camry sedan, the RAV4 crossover and SUVs. F-Series sales rose 9 percent for the year, in part because of post-hurricane demand in Texas and Florida. Both auto manufacturers' December sales beat analyst's forecasts and ended a disappointing year on a brighter note. Ford sold 896,764 F-Series trucks in the US last year, or almost two trucks every minute.

Auto sales in the United States fell by 2 percent in 2017, the first decline in seven years. Fiat Chrysler reported a decline of 8 percent compared with 2016. At the same time passenger auto sales fell 3.4 per cent to the lowest level since 1964 with 639,823 units sold, compared to 1.39 million light trucks. Deliveries to those customers plunged 42% in December.

While industrywide sales for the year were down compared to the year ago results, pricing numbers on the vehicles sold were encouraging. The average analyst estimate is for 16.7 million light-vehicle sales in 2018, which is still a healthy level by historical standards.

USA auto sales fell 2 percent to 17.2 million in 2017, according to Autodata Corp.

"It's good news in the sense that it highlights that the consumer is coming back to the market with soaring demands for crossovers, but it's also telling us that business investment is also strengthening, which is confirmed by a sharp improvement in pickup truck sales".