General Motors (GM) reported fourth-quarter U.S. auto sales fell 2.7% vs. a year earlier to 785,229 vehicles Thursday. Fiat Chrysler (FCAU) and Ford Motor (F) beat some views for December U.S. auto sales. Toyota Motor (TM), Honda Motor (HMC) and Nissan (NSANY) also beat.
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Ahead of Thursday's reports, Analysts at Cox Automotive estimated December auto sales reached a 17.2 million seasonally adjusted annual rate, down from a 17.3 million pace in December 2017. For all of 2018, analysts estimated automakers sold 17.2 million new vehicles, about even with 2017.
GM stock sank 4.1% to close at 32.25 in the stock market as the major market averages sold off. General Motors recently announced plans to shut several U.S. plants, affecting thousands of GM workers, as it continues to shift from slow-selling cars to more-popular crossovers and other SUVs.
On Wednesday, Tesla (TSLA) posted weaker-than-expected Q4 deliveries, sending Tesla stock sharply lower. Tesla stock fell 3.1% Thursday.
Here is how automakers performed in December against expectations, showing sales volume as well as growth or decline vs. a year ago:
Ford Motor
Cox Automotive sales estimate: 230,000; down 4.5%
Edmunds.com sales estimate: 218,111; down 9.5%
Results: Ford sales totaled 220,774 vehicles, diving 8.8% as demand weakened across cars, trucks and SUVs. Retail sales fell 4.8% in December, fleet sales lost 19.5%, trucks fell 3.8%, SUVs slipped 4.4% and passenger cars plunged 27.8%.
Sales of the flagship Ford F-Series trucks shrank 1.8% in December, but gained 1.4% for all of 2018. Ford U.S. sales totaled 2.497 million for full-year 2018, down 3.5%.
Ford stock fell 1.5% on the stock market today. The RS line, tracking a stock's performance against the S&P 500 index, is near a 10-year low.
Fiat Chrysler
Cox Automotive sales estimate: 190,000; up 10.5%
Edmunds.com sales estimate: 199,560; up 16.1%
Results: Fiat Chrysler sales totaled 196,520, a gain of 14%. Retail sales climbed slightly to 151,077 vehicles. Fleet sales totaled 45,443 vehicles, accounting for 23% of the total. Jeep brand sales rose 10% in December, Ram brand sales rose 37% and Dodge brand sales rose 17%. The Alfa Romeo, Chrysler and Fiat brands fell 4%, 28% and 44% respectively.
The Jeep Wrangler was the standout for the month and the year, Fiat Chrysler said, powering the best year for retail sales in 17 years. Total U.S. vehicle sales in 2018 gained 9% to 2.235 million. Retail sales of 1,760,488 units marked the highest level since 2001.
Fiat Chrysler stock lost 1.5%.
Toyota Motor
Cox Automotive sales estimate: 220,000; down 1.3%
Edmunds.com sales estimate: 220,041; down 1.3%
Results: Toyota Motor sales totaled 220,910 in December, falling 0.9%. Sales totaled 2.427 million for 2018, declining 0.6%.
Toyota stock retreated 1.4%.
Honda Motor
Cox Automotive sales estimate: 140,000; down 6.2%
Edmunds.com sales estimate: 146,522; down 1.9%
Results: Honda sales rose 3.9% to 155,115 in December, with gains for trucks and cars. For the full year, Honda sales fell 2.2% to 1.604 million units.
Honda stock fell 1.4%.
Nissan
Cox Automotive sales estimate: 130,000; down 6%
Edmunds.com sales estimate: 129,736; down 6.1%
Results: Nissan sales jumped 7.6% to 148,720. For all of 2018, Nissan sales fell 6.2% to 1.494 million units due to crashing car demand, despite record sales of trucks, SUVs and crossovers.
Nissan stock dipped 0.1%.
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The post GM U.S. Sales Fall 2.7% In Q4; Ford, Fiat Chrysler Beat In December appeared first on Investor's Business Daily.
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