We will get the US Auto sales figures out tonight for March. They will be dreadful. The US has run a 17m seasonally adjusted annualized rate (SAAR) for some time now. March will probably be in the 11-12m SAAR category. Post GFC car sales were in the 9-10m SAAR area.
The market will expect a smacking. It is just a case of whether it beats/misses expectations.
Note China’s car sales fell 79%YoY in February. The highest number on record. China’s car sales have been sliding for the last 2 years so the relative fall is meaningful.
Known knowns. Expectations delta is what matters.
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Indeed. Will be interesting to see how Tesla fares. It is still highly indebted. Profitability questionable from here
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