Taking advantage of cheap gas prices, holiday sales and low interest rates, U.S. auto sales recorded big gains in the last month of 2014. According to the figures, truck and car sales finished the year vigorously. U.S. sales at FCA US record a gain of 20 percent in December. Overall volume advanced 16 percent in 2014. Fiat Chrysler Automobiles US post the biggest gain in U.S. market share among major automakers demand.
Reid Bigland, the automaker’s head of U.S. sales, said that “Our best December sales in a decade pushed our full-year sales over the 2-million unit threshold for our best annual sales since 2006”. The numbers for all of 2014 state that FCA US sold 2,090,639 cars and trucks up 16.1%.
Deliveries at General Motors recorded a rise by 19 percent. Cadillac sales dropped 11 percent, but rose 32 percent at Buick, 21 percent at Chevrolet and 23 percent at GMC. For all of 2014, GM’s sales advanced 5 percent.
Honda reported gains in the last month of 2014, and says its sales were up to 1,54 million cars and trucks, a rise of 1 percent. Small SUV CR-V had a record sale of 32,369 units in December, and 10 percent for the year. 335,019 units were sold and led to a gain in a 10 percent which broke the record for SUV’s annual sales of the company. Overall results set a record for the Honda brand, being the second-best results in company history.
Nissan set a record for December too. A 6.9% percent gain, 117,318 new vehicles sold in December consolidated the 11.1 percent increase in sales over 2013. Fred Diaz, Nissan’s senior vice president for U.S. sales, marketing and operations, said that “We expect low gas prices and high consumer confidence to be the magic formula that continues to bring more buyers into dealer showrooms”. Overall, Nissan’s truck volume decreased 1 percent last month, while car sales rose by 12 percent. For 2014 the company’s truck demand of 9 percent was outpaced by car volume which rose by 13 percent.
A total of 13 brands, Jeep, Mercedes-Benz, Nissan, Land Rover, BMW, Porsche, Kia, Subaru, Maserati, Hyundai, Audi, Honda and Ram, have set or were well on their way to setting U.S. sales records for 2014.
Eric Lyman, TrueCar’s vice president of industry insights, stated that “The economy has moved into growth mode and the auto market is hot”. He also said that “Third quarter GDP grew 5 percent and the job market is steady, which is great news for both automakers and consumers. This puts the auto industry in a favorable position as we project 2015 will trump this year’s 16.5 million new-vehicle sales with a total of 17 million units”.
Image Source: Bloomberg