US Vehicle Sales Start Coming Out Today, With Toyota and Fiat/Chrysler Sales Down
Skerdian Meta • 1 min read
Today is the day that the US vehicle sales reports form major US car manufacturers. Total vehicle sales averaged at around 17.5 million a month in the period from September until December last year. But in January and February this year they fell to around 16.6 billion per month.
Today’s figures which are for March are expected to be in that region, with total sales at 16.7 million. Although, don’t be surprised to see some negative figures today as Fiat/Chrysler missed expectations, as shown in the report released just a while ago. Sales for Fiat/Chrysler are 7.3% down compared to last month, against -6.4% estimated.
Toyota beat expectations but their sales in March are also down from February. Toyota US sales were down 3.5% last month compared to -5.0% expected. We have seen some negative numbers form US retail sales yesterday and the durable goods orders, which surprisingly enough were affected negatively by transportation items, which is vehicles.
If the auto sales are negative as well, then it might affect the market sentiment. The sentiment has started to improve this week after being quite negative for two weeks due to global economic weakness. So, another round of negative data and the sentiment might turn negative again, because it still is pretty fragile. That would send stock markets diving which would be another good opportunity to go long when that ends. So, why not hope for some terrible numbers today in order to get one or two trades going?