Durable goods orders were soft in January but today’s vehicle sales numbers point to a big rebound in February and are helping to underscore positive sentiment.
- Chrysler 40% vs 26% exp
- Fored 14% vs 9.4% exp
- Toytota 12% vs 8.2% exp
- Honda 12% vs 4.5% exp
- Nissan 16% vs 6.1% exp
Nisasa executive: “Consumer demand is coming back, and I think it’s coming back fairly aggressively”
A caveat: “It’s been a function of a very warm winter,” one auto consultant said.
Total sales will be released at 2200 GMT and the ‘consensus’ is for 14 million but that looks as if it will easily be beaten. Prior to the crisis, the average was in the 16-17 million range but in those days you could get a $40,000 car loan with a job a McDonald’s.
