Market Overview

December Auto Sales Round-up!

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January 3 not only marked the first retail sales report of the year, but also brought the first monthly vehicle sales report.

Kicking things off, General Motors (NYSE: GM) reported a 4.9 percent increase in December sales, well above expectations, while Toyota (NYSE: TM) reported its December vehicle sales growth at nine percent.

Chrysler (OTC: FIATY) also came through with a solid report, showing a 10 percent increase in vehicle sales for December.

Ford Motor Company (NYSE: F) saw the smallest gain of the domestic automakers, but still reported an increase in December auto sales by 1.9 percent.

Honda (NYSE: HMC) did not come out with such strong numbers however, reporting a 26.2 percent jump in December vehicle sales, missing the estimated growth figure of 32 percent.

Nissan was also among the losers, reporting a decrease of 1.6 percent for December, well below the estimated 2.7 percent gain.

From over the Atlantic in Germany, BMW and Mini reported a decrease in sales of 6.5 percent, while Audi reported an increase in December sales of 17.3 percent, and Mercedes Benz reported a decline 14.2 percent for December.

Overall the markets liked the reports as the First Trust auto ETF (NASDAQ: CARZ) gained 0.54 percent to $29.66.

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