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Auto sales in the United States are recovering from the decline caused by the impact of the new corona virus, and the July-September (third quarter) results exceeded market expectations, although they decreased compared to the same period of the previous year. There has been a widespread movement to avoid carpooling and to use low borrowing costs to buy private cars.
Fiat Chrysler automobiles (FCA) and General Motors (FCA)ＧＭ） 、Sling,Toyota Motor Co., Ltd.’s sales declined only slightly than analysts expected. on the other hand,Nissan Motor was stuck in a long-term slump and the number declined significantly more than expected.
In sales from July to September of each company, GM decreased 9.9% (market forecast 13.4% decrease), FCA 10.0% decrease (11.4% decrease), Toyota Motor 11 , 0% decrease (13.5% decrease), Honda 9.5%. Decrease (10.0% decrease), Nissan decreased 32.4% (31.8% decrease).
Miss or Beat?
Comparison of Third-Quarter U.S. Auto Manufacturers Sales Figures to Estimates
Sources: Company statements, Bloomberg News analyst survey
The growth in personal demand is offsetting the decline in fleets (large customers) such as car rental companies. According to research firm JD Power, US car sales in September are estimated at 15.7 million units on a seasonally adjusted annual basis. In the same month of the previous year, it was 16 million units.
Elaine Buckberg, GM’s chief economist, said in a statement: “Personal car sales are showing even stronger resilience as the US economy recovers significantly in the July-September quarter.” “Ultra-low interest rates on auto loans are also driving personal sales,” he said.
Sales recovery
US Auto and Light Truck Deliveries Recover from Pandemic Lows
Source: JD Power
Original title:
Honda Ekes Out Beat Estimate in Q3: Car Sales Update （抜 粋）
