Ford and GM weaker than expectations
Today the US car sales for March are being released and so far, the numbers are not looking up to expectations.
- Ford sales were down 7.2%. The estimate was for down 5.9%
- GM sales were up 1.6% but below expectations. The estimate was 7.0% according to headlines on Bloomberg. CNBC shows an estimate of 9.6%. Either case the numbers are not great. CNBC also reported higher inventories accumulating.
Honda also reported and their sales fell -0.7% vs 4.9% estimate. Nissan did beat with a gain of 3.2% vs 2.8% estimate.