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Automobile industry

Auto Sales Surge in December, 2010 Amid Robust Holiday Demand

Strategic Insights

— 1 min read

Auto sales in December 2010 continued to show signs of recovery, with major automakers Ford and General Motors reporting robust sales figures. According to Edmunds.com, domestic December sales are expected to reach 1.13 million vehicles, marking a seasonally adjusted annual rate of 12.54 million vehicles for 2010. While this is still a far cry from the pre-recession levels of 17.4 million vehicles in 2007, the modest gains in sales are a welcome sign for the industry.

Key Takeaways:

  • Ford Motor Co. and General Motors are both trading higher in mid-afternoon trading, following a report that auto sales were robust in December.
  • Nissan Motors is expected to report a 25.9% increase in sales from a year ago, leading the pack among major automakers.
  • GM and Chrysler are expected to report double-digit gains, while Ford and Honda Motor Co. sales are expected to rise by 5.1% and 6.5%, respectively.
  • Toyota Motor Corp. is expected to report a double-digit decline in sales due to ongoing recall issues.
  • Comtex SmarTrend Alert indicated an uptrend for Ford on 09-21-2010, HMC on 11-10-2010, and TM on 11-05-2010.

Statistics:

  • Seasonally adjusted annual rate for 2010: 12.54 million vehicles
  • Domestic December sales: 1.13 million vehicles (projected by Edmunds.com)
  • Ford Motor Co. sales increase: 5.1%
  • General Motors sales increase: double-digit
  • Chrysler sales increase: double-digit
  • Nissan Motors sales increase: 25.9%
  • Honda Motor Co. sales increase: 6.5%
  • Toyota Motor Corp. sales decline: double-digit

Sources:

  • MidnightTrader via COMTEX - Boston, Dec 31, 2010
  • Edmunds.com (no date provided)
  • Comtex News Network, Inc. - www.mysmartrend.com
  • MidnightTrader.com (copyright 2010)
  • Comtex News Network, Inc. (copyright 2004-2010)

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