Beginning Of The End? Auto OEMs Miss March Sales 'Bigly' As Stocks Tumble
Despite continued heavy incentive spending, every auto OEM, with the exception of Nissan, missed their sales forecasts for the month of March. The "D3" were the biggest losers of the month with GM sales up 1.6% YoY vs. estimates of +7.0% while Ford sales dropped -7.2% and Fiat Chrysler declined -5.0%. Car sales were even worse with industry volumes down 10.6% overall versus light truck sales that were up 5.2% according to Autodata.