Jan. Auto Sales Make Slight Uptick
Feb. 5, 2018—January’s U.S. auto sales were slightly better than a year prior, though many analysts still predict a small full-year decline despite economic factors that favor the industry. Automakers reported a 1 percent increase last month to 1.15 million vehicles, according to Associated Press research.
But Mike Jackson, CEO of the AutoNation dealership group, noted that late-model used cars coming off leases are pulling buyers from higher-priced new vehicles. He predicts new-car sales will drop from 17.2 million last year to approximately 16.8 million this year.
Among the noteworthy statistics released by automakers late last week:
- Car sales fell nearly 11 percent, while truck and SUV sales made an 8 percent increase.
- Nissan Group sales rose 10 percent to 123,538, a January record.
- Toyota Motor Corp. posted a 16.8 percent increase to 167,056 vehicles, due to strong SUV demand.
- Meanwhile, multiple OEMs endured sales decreases, most notably Fiat Chrysler Automobiles (down 13 percent, due to reduced sales to fleet buyers), and Hyundai (down 11.3 percent from last year’s record January).