Carmakers Start 2019 With Abysmal US Auto Sales | WHAT REALLY HAPPENED


Carmakers Start 2019 With Abysmal US Auto Sales

Forget about the automobile industry turning over a new leaf for the new year: the beginning of 2019 has started just as miserably as 2018 ended for many major auto OEMs in the US. On Friday, January sales numbers for most automakers trickled in, with almost all manufacturers posting disappointing results and/or missing estimates.

Ford - which no longer reports official monthly sales numbers, just like GM - was the one exception, rising 7% versus estimates of -1.5%, according to Bloomberg who cited "people familiar". GM, on the other hand, fell 7% versus estimates of -3.7%." Japanese car giants Nissan and Toyota also both posted losses that were larger than expected and companies like Fiat Chrysler and Honda saw their meek gains falling below expectations. As was expected - and stop us if you’ve heard this one before – most companies wound up blaming the cold weather. Honda got creative and also blamed the government shutdown.

Reid Bigland, Fiat Chrysler's head of U.S. sales, said: "In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy."

Webmaster's Commentary: 

GM is reported to be in the process of laying off 4,000 workers shortly.

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