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Expect U.S. Light Vehicle Count Around 17.5M Units For April

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Expect U.S. Light Vehicle Count Around 17.5M Units For April

Buckingham Research Group analyst Joseph Amaturo remains bullish about the auto sector ahead of Tuesday’s global light vehicle sales numbers.

“We continue to remind investors that we believe we are in a plateauing U.S. light vehicle sales environment, and do not think that we have ‘peaked,’ as that would imply a material drop in sales,” Amaturo explained.

Related Link: BofA Re-Racks The Detroit Three: 1. GM 2. Ford 3. Fiat Chrysler

Buckingham has released a new report outlining what the firm expects from Tuesday’s light vehicle sales. Here’s an overview of the firm’s predictions on an adjusted basis:

  • U.S. light vehicle SAAR of 17.5 million units, up 0.9 percent year-over-year (Y/Y)
  • Ford Motor Company (NYSE: F) U.S. light vehicle sales up 3.0 percent Y/Y
  • General Motors Company (NYSE: GM) U.S. light vehicle sales down 2.0 percent Y/Y
  • Ford market share up 0.3 percent Y/Y, GM market share down 0.6 percent
  • Industry full-size pickup sales up 7.0 percent Y/Y
  • European auto sales up 7.0 percent Y/Y
  • No material recovery in Brazil sales in the near term
  • China auto sales up 7.0 percent Y/Y
  • India auto sales up 1.0 percent Y/Y

Buckingham maintains Buy ratings on Ford, American Axle & Manufact. Holdings, Inc. (NYSE: AXL) and Penske Automotive Group, Inc. (NYSE: PAG). The firm has a Neutral rating on GM.

Disclosure: The author holds no position in the stocks mentioned.

Latest Ratings for F

DateFirmActionFromTo
Nov 2020Morgan StanleyDowngradesOverweightEqual-Weight
Nov 2020UBSMaintainsNeutral
Nov 2020JefferiesMaintainsBuy

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