This is how auto sales ended in January over the NAFTA region
U.S. auto sales slowed in January, but analysts remain confident that low gas prices and tax refunds will increase demand for new vehicles in the coming months.
January sales fell 1.8 percent to 1.14 million vehicles, or a seasonally adjusted annualized rate of 17.61 million vehicles, down from 17.9 million vehicles a year earlier, according to Autodata.
“The annualized rate was roughly in line with the forecast of 17.55 million in a poll of 40 economists by Thomson Reuters,” said Reuters in its report.
Sales at General Motors, which sells the most vehicles in the U.S., fell 3.8 percent from last January, while Ford’s sales were down 1 percent. Fiat Chrysler’s sales dropped 11 percent. Nissan’s sales rose 6 percent thanks to strong truck and SUV sales.
Canadian car and light truck sales rose 2.2 percent in January over last year to an all-time record for the month, DesRosiers Automotive Consultants said, as the big Detroit Three automakers posted gains that contrasted with US declines.
Total sales in Canada climbed to 110,945 light vehicles in January, up from 108,572 in the same month last year, DesRosiers said, beating the previous record-setting January sales of 110,266 vehicles in 2002.
In Mexico, light vehicle sales totaled 123,260 units last month, a 3% hike compared to January 2016, according to the Mexican Automotive Industry Association (AMIA).
Nissan remains the biggest seller over the Mexican market with a 23.4% share, down from 25% reported last December. Volkswagen and GM followed with 15.8% and 14.9% shares, respectively.
FCA ended with 7.8%, followed by Honda (6.9%), Toyota (6.5%), Ford (6.3%), Kia (4.7%), Mazda (3.9%) and Hyundai (2.6%).