The U.S. saw a significant rise in light vehicle sales in January. It grew significantly by 17% to a seasonally adjusted annual rate (SAAR) of 12.6 million units in January, reflecting a strong uplift in the industry. SAAR reached the highest level during the month since the cash-for-clunkers program in the summer of 2009.
All the major automakers posted double-digit gain in sales. Sales at General Motors Co. (GM) and Toyota Motor Corp. (TM) were mainly driven by higher incentives to customers.
U.S. Automakers
Sales at General Motors scaled up 23% to 178,896 vehicles, driven by impressive sales of its crossover vehicles and pickup trucks. Sales of crossover vehicles soared 31%, including a 48% rise in sales of the GMC Terrain and a 35% increase in sales of the Chevrolet Equinox.
Sales at Ford Motor Co. (F), comprising its namesake, Lincoln and Mercury brands, grew 9.2% to 116,534 vehicles on the back strong sales of its trucks and fuel-efficient passenger cars. Truck sales rose 24.6% driven by a 29.6% growth in sales of F-Series pickup.
Sales at Chrysler (including its namesake, Jeep, Dodge and Ram brands) appreciated 23% to 70,118 vehicles. The automaker revealed that introduction of 16 all-new or revamped models led to the year-over-year improvement in sales.
Japanese Automakers
Sales at Toyotapicked up 17.3% to 115,856 vehicles from the lower sales in December on the back of recall of eight models due to defective gas pedals. Toyota truck sales rose 37% while car sales went up 15%.
However, sales at Honda Motor Co. (HMC) rose 13% to 129,616 vehicles, driven by impressive sales of CR-V sport utility vehicle and Accord. Meanwhile, sales at Nissan Motors (NSANY) rose 15% to 71,847 vehicles on strong sales of its Rogue crossover.
Other Automakers
Sales at Daimler AG (DDAIF), including Mercedes-Benz (cars, light trucks and Sprinter) and smart vehicles, escalated 14.2% to 17,631 vehicles. Sales of Mercedes-Benz increased 14% to 17,273 vehicles while sales smart USA gained 29% to 358 units.
Sales at Hyundai Motor Co. (HYMLF) went up 22% to 37,214 vehicles driven by higher sales of revamped Sonata sedan and the newly redesigned Elantra. Meanwhile, sales at Kia Motors, Hyundai’s sister company, zoomed 26% to 27,789 vehicles led by strong sales of Sorento SUV and Optima sedan.
The sales trend in January clearly indicated a rebound in consumer confidence. However, unemployment and rising gas prices pose threat for the industry sales. For full year 2011, industry sales are projected to rise 11.2% to 12.9 million vehicles from 11.6 million in 2010.
DAIMLER AG (DDAIF): Free Stock Analysis Report
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