Auto Sales Disappoint Despite Surging Incentives, “Worrisome Trends Are Taking Hold”
by Tyler Durden
ZeroHedge.com
04/01/2016
Just as we predicted, it seems – despite the “everything is awesome” jobs data – that auto sales exuberance has hit the wall of credit saturation. Despite a surge in incentives in Q1, GM US auto sales rose just 0.6% (drastically lower than 6.0% rise expectations) and Ford rose 7.8% (missing expectations of a 9.4% surge). As J.D.Power notes “there are worrisome trends below the surface” of auto sales and with inventories at levels only seen once in the last 24 years (and tumbling used car prices), the automakers have a major problem if this is anything but ‘transitory’.
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