The US auto sales off to a solid start in 2016 image

The automotive market in the United States is aiming to hit a new sales record at the end of 2016, and the start of the year shows a good start into this direction.

The record auto sales in the United States are not going to be limited to 2015 levels, as some analysts already forecasted further growth for this year. They say that the same economic factors, such as low fuel prices or credit availability – which pushed last year’s figures, will also be driving growth in 2016. And the start of the year is seen as a positive one, which will carry on the trend. Automakers sold 1,148,087 light vehicles last month, according to Automotive News Data Center, a 0,4 decrease from a year ago. However, the seasonally adjusted annual selling rate rose to 17.55 million from 16.71 million.

Even if the January sales show a slight decline, last month’s figures have been impacted by the minus of two selling days and the massive East Coast snowstorm. Despite these factors, auto sales are solid, said Eric Lyman, vice president of industry insights at TrueCar. “The industry is off to a good start in 2016,” he said. The demand has been kept in line mainly by strong fleet volume, which rose to 21 percent of industry volume last month from 18 percent in January 2015, according to one manufacturer’s internal estimate.

General Motors, Fiat Chrysler Automobiles and Nissan North America were among the automakers which posted increase sales last month, while Toyota Motor, Ford Motor and American Honda reported fewer cars sold compared to a year ago.

Via Automotive News