Cox Automotive Forecasts Annual U.S. Vehicle Sales Pace In December To Be Near 15.1M, Up 1.6M From Last December's 13.5M Pace
Portfolio Pulse from Benzinga Newsdesk
Cox Automotive forecasts a 6.2% increase in December 2023 U.S. new-vehicle sales over the previous year, with an expected SAAR of 15.1 million. Full-year sales are predicted to rise 11.6% to 15.5 million units. Honda, Nissan, General Motors (GM), and Tesla have seen large gains, with Hyundai Motor Group surpassing Stellantis in sales. Fleet sales are expected to rebound after a UAW strike. The 2024 outlook suggests a buyer's market with weak economic growth and higher inventories.
December 27, 2023 | 4:08 pm
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POSITIVE IMPACT
General Motors is expected to retain its sales title over Toyota in 2023, indicating strong performance and potential positive impact on its stock.
General Motors' retention of the sales title over Toyota suggests a competitive edge and successful sales strategy, which could lead to increased investor confidence and a potential rise in stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ford is not directly mentioned in the context of sales performance, but as a major player in the industry, the overall positive sales trend could have a neutral to positive impact on its stock.
While Ford is not highlighted for specific gains, the overall industry growth and positive sales environment could support Ford's stock price, although the direct impact is less clear without specific performance data.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Stellantis is expected to post lower year-over-year sales, which could negatively impact its stock in the short term.
Stellantis' expected decrease in year-over-year sales, despite a strategy of lower volume and higher revenue per sale, could be a concern for investors and may lead to a short-term dip in its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80