The number sold in the U.S. expanded in 2016 to 0.4% and set a new record at the level of 17.55 million vehicles, according to data from Autodata Corp.
Sales growth was driven by the positive situation in the us economy, available credit and substantial discounts from automakers.
Thus, the increase of car sales in the US recorded at the end of the seventh year in a row, which is the longest period of growth since the Second world war.
“Overall, the year was great – says a senior analyst at Kelley Blue Book’s Alec Gutierrez. But the stocks of the dealers by the end of the year exceeded the demand, which has contributed to greater discounts.”
Among the main trends of last year, analysts attribute the increased demand for powerful cars, pickups and SUVs as low fuel prices have allowed Americans not to care about fuel economy.
However, experts believe that this year’s new record should not wait for growth of rates on loans and increasing prices of gasoline on the background of the expected rise in price of oil.
In December last year car sales rose by 3.1% in annual terms, to 1.69 million cars. The figure was a record for December since 2005.
All three of the “big three” American automakers (General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles NV) exceeded projections for number of vehicles sold in December.
The GM sales jumped last month by 10%, to 319,1 thousand cars, instead of the expected growth of 4.4%.
Ford increased sales by 0.1%, to 237,8 thousand cars, while the experts on average had expected the decline in sales of 2.1%.
FCA sales fell by 10% and amounted to 192.5 per thousand. Analysts had expected an even greater collapse – 14%.
Major Japanese companies: Toyota, Honda and Nissan – it is unexpected for analysts has increased sales by 2%, 6.4% and 9.7% respectively. Forecasts expected a decline in sales for all three companies. Toyota sold in December 243,2 thousand cars, taking second place in the U.S. market after GM.
Sales of cars of the brands Volkswagen and Audi in the last month of last year soared by 18% to 60.4 thousand. Predicted a more modest rise of 5.6%.
Among the leaders of the market the only disappointment was the performance of Hyundai and Kia – sales of these cars decreased by 0.9% to 116,7 million, instead of the expected growth by 5%.