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US auto sales in 2014 boost due to falling gasoline prices
(MENAFN) Automakers reported strong December US sales earlier this week, boosted by falling gasoline prices, but industry executives and analysts cautioned that growth would slow in 2015 after five years of rapid recovery from the recession, Gulf News reported.
General Motors Co. easily beat analysts' expectations, logging s 19 percent gain to 274,483 vehicles, the best December for the No. 1 US automaker in seven years. Ford Motor Co's December sales 220,671 were up just 1.2 percent, missing expectations.
"US auto sales are dancing to a very different [and we believe unsustainable] beat," Morgan Stanley analyst Adam Jonas said in a research note.
He suggested US auto demand has outpaced economic, wage and housing growth rates, thanks largely to easy credit access for consumers.
General Motors Co. easily beat analysts' expectations, logging s 19 percent gain to 274,483 vehicles, the best December for the No. 1 US automaker in seven years. Ford Motor Co's December sales 220,671 were up just 1.2 percent, missing expectations.
"US auto sales are dancing to a very different [and we believe unsustainable] beat," Morgan Stanley analyst Adam Jonas said in a research note.
He suggested US auto demand has outpaced economic, wage and housing growth rates, thanks largely to easy credit access for consumers.
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