Auto sales got off to a frosty start to the year, with all major carmakers reporting weaker numbers than expected, according to a Bloomberg report.
Nissan and Toyota posted bigger declines than analysts estimated in a Bloomberg News survey. Fiat Chrysler and Honda’s gains trailed projections, and both companies blamed the cold.
”In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy,” Reid Bigland, Fiat Chrysler’s head of U.S. sales, said in a statement. The automaker’s only brand to grow for the month was Ram, with a 24% surge in truck and van deliveries.
The results suggest the annualized industry sales rate may have slowed more than anticipated. Analysts had been projecting a pace of 16.9 million car and light truck deliveries for the month was Ram, with a 24% surge in truck and van deliveries.
For the full story click here.