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LIVE: US auto sales
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Carmakers are reporting their US sales numbers in May on Thursday, following year-over-year declines every month since January.
Analysts estimate that sales rose at a seasonally adjusted annual rate of 16.90 million, according to Bloomberg, little improved from the 16.88 million pace recorded in April.
After seven straight years of record-setting numbers, the slowdown this year suggests that the market may have peaked.
“While the survey results for this week and, hence, Memorial Day weekend are not in yet; we believe investors should not expect too much from this month’s SAAR,” Evercore ISI analysts said in a preview.
“A third consecutive month sub-17 million will not be good for sentiment with auto investors calling the “end of the cycle” for several quarters now and questions around the need for further production cuts continuing unabated. However, despite being short of expectations at the beginning of the year and indeed the beginning of the month, we do not believe that 16.9Mn represents a “disaster”; though three months sub-17Mn does suggest the market is softening.
Key data points to look out for include how much automakers are still using incentives to woo prospective buyers, and inventory levels, particularly for General Motors.
This post will be updated as the sales numbers are released. More to come …
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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Scott Olson/Getty Images
Carmakers are reporting their US sales numbers in May on Thursday, following year-over-year declines every month since January.
Analysts estimate that sales rose at a seasonally adjusted annual rate of 16.90 million, according to Bloomberg, little improved from the 16.88 million pace recorded in April.
After seven straight years of record-setting numbers, the slowdown this year suggests that the market may have peaked.
“While the survey results for this week and, hence, Memorial Day weekend are not in yet; we believe investors should not expect too much from this month’s SAAR,” Evercore ISI analysts said in a preview.
“A third consecutive month sub-17 million will not be good for sentiment with auto investors calling the “end of the cycle” for several quarters now and questions around the need for further production cuts continuing unabated. However, despite being short of expectations at the beginning of the year and indeed the beginning of the month, we do not believe that 16.9Mn represents a “disaster”; though three months sub-17Mn does suggest the market is softening.
Key data points to look out for include how much automakers are still using incentives to woo prospective buyers, and inventory levels, particularly for General Motors.
This post will be updated as the sales numbers are released. More to come …
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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2rtgGW8
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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