DETROIT, Jan. 5 (UPI) — American automakers performed better than expected in December, putting the industry on track to achieve a new record sales mark for 2016.
Final numbers are still to come, but industry analyst J.D. Power said Wednesday it forecast 2016 sales to surpass the bar set the previous year.
Fueling the expected record were a slew of year-end incentives that pushed car-buyers to dealerships in droves, experts said — but that will also likely play a role in potentially lower sales this year.
The U.S. auto industry entered December on the precipice of a new all-time annual record for sales — poised to top the 17.47 million vehicle-mark set in 2015. However, business was expected to sag slightly (about 2 percent) year-to-year for the month, especially since there was one fewer sales day.
Contrary to expectations, though, it appears sales actually increased by about 1.5 percent, J.D. Power said.
General Motors on Wednesday reported a 10 percent rise from 2015 in its December auto sales — a sound beating of that predicted by analysts, who expected an increase in the 3 percent range. Sales for Chevrolet, GM’s flagship brand, rose nearly 13 percent.
Ford’s boost was much smaller, just 0.3 percent, for the month — but still beat forecasts, which anticipated a sales decline. Its F-series pickup trucks saw a rise of nearly 3 percent.
Fiat Chrysler turned in the worst December performance of the three — a decline of 10 percent compared to a year earlier. Nonetheless, even it contributed to the industry boost last month, as experts thought Chrysler would see a decline of 11-12 percent. Individual brands Chrysler, Dodge and Fiat all saw incredible declines for December, but sales of the company’s Ram pickup increased more than 10 percent.
