A New Record - 17.55M Cars Sold
- Can you believe it? Due to some big incentives in December, Auto sales reached 17.55 million and the December rate was best since 2005. GM, Ford shares surge even as industry heads into tougher 2017. Aggressive dealmaking in December ultimately pushed the year’s total sales to a record 17.55 million cars and light trucks -- a feat considered unlikely just six months earlier. For the month, General Motors Co.’s 10 percent gain led the six largest automakers, all of which beat estimates. The monthly annualized sales rate accelerated to 18.4 million in December, the best pace since July 2005. However, was the year-end push was a last gasp. Automakers are entering 2017 with analysts projecting the first sales decline in years, to about 17.3 million.
