Auto Sales Disappoint Despite Surging Incentives, "Worrisome Trends Are Taking Hold"
Just as we predicted, it seems - despite the "everything is awesome" jobs data - that auto sales exuberance has hit the wall of credit saturation. Despite a surge in incentives in Q1, GM US auto sales rose just 0.6% (drastically lower than 6.0% rise expectations) and Ford rose 7.8% (missing expectations of a 9.4% surge).