While the Blizzard of 2016 dropped over two feet of snow over most of the Eastern seaboard, the US auto market continued chugging along, with most major brands showing increased Daily Sales Rate over last January. While projections of the market hitting a plateau in 2016 still hold, January’s final tally was impressive nonetheless — finishing with a SAAR of 17.46M units according to Wards.
All major “volume” brands continued to show year-over-year gains in DSR* except VW. While DSR increased by 7.9% in January, overall volume dropped by 0.4%. Fiat-Chrysler posted a +6.9% increase in volume, while Toyota (-4.7%) and Ford (-3.0%) sold fewer units year-over-year.
With the prolonged trend of suppressed fuel prices, light trucks continued to grab the lion’s share of the market.
The 17.46M unit pace for the month made this the highest-DSR* January for the automotive market since 2006.
Your ESA Car Keys recap follows.
JANUARY 2016 HIGHLIGHTS
Wards Auto and NADA MarketBeat
- January SAAR: 17.46M units
- January Units: 1.14M vehicles sold
- Change: DSR* +7.9% | Volume -0.4% vs January 2015
- Gainers (by volume): Fiat-Chrysler +6.9%, Audi +2.7%, Nissan +1.6%, Hyundai +1.1%, Subaru +0.7%, GM +0.5%
- Laggards: VW -14.6%, Toyota -4.7%, BMW -4.0%, Ford -3.0%, Honda -1.7%
*DSR: Daily Sales Rate. A more reliable indicator of the pace of auto sales which accounts for actual car-selling days per month.
*SAAR: Seasonally-Adjusted Annual Sales Rate.
SOURCES: NADA MarketBeat, Wards Automotive, Automotive News.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.