A look at the reports from major automakers so far
Here's the big 3:
- Ford sales up 2.3% vs +0.1% estimate
- GM sales down 1.3% vs +4.3% estimate
- Fiat Chrysler sales down 1% vs -3.9% estimate
Despite the miss from GM, they reaffirmed their year-end guidance.
From smaller automakers:
- Nissa sales +3.0% vs +0.6% estimate
- Toyota, Honda, VW still to report
Beneath the headlines there are some concerns. Ford, for instance, would have missed because consumer deliveries were light. They were able to make up the shortfall because of very strong deliveries to rental car companies. Goldman Sachs, RBC and others have warned that they're beginning to rethink auto production.
For the year, the market is looking for about 16.8m sales, down from 17.2m a year ago.
Update: Toyota sales -0.5% vs -1.3% estimate