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- BofA analyst John Murphy sees U.S. light-vehicle sales down ~20% year-over-year in December on a selling day adjusted basis yielding a seasonally adjusted annualized rate of 12.9 million vehicles.
- Murphy said that the expected weak performance reflects depressed sales due to the ongoing supply shock.
- Murphy added that if December sales are in-line with his estimate, it would mark the third month of essentially flattish performance in SAAR and bring 2021 complete year sales to a little less than 15 million units, up just 3% from the COVID-induced tough of 14.5 million units.
- Murphy's channel checks suggest that the range of sales estimate in December 2021 remains "quite wide," which he calls "not too surprising given the lacking visibility."
- Publicly traded automakers include Daimler (OTC:DDAIF), Ford Motor Co (NYSE:F), General Motors Co (NYSE:GM), Honda Motor Co Ltd (NYSE:HMC), Nissan Motor Co Ltd (OTC:NSANY), Stellantis NV (NYSE:STLA), Tesla Inc (NASDAQ:TSLA), Toyota Motor Corp (NYSE:TM) and Volkswagen AG (OTC:VWAGY).
- Price Action: TSLA shares traded lower by 0.06% at $1,093.31 on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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