US Car Sales Set New Record In 2016
Mohammad Ali (@ChaudhryMAli88) Published January 05, 2017 | 11:50 AM
CHICAGO, Jan 5 (APP - UrduPoint / Pakistan Point News - 05th Jan, 2017 ) - The US consumer buoyed carmakers to a big finish in 2016, with strong December figures released Wednesday putting total sales for the year over the top to beat the 2015 record.
Sales inched 0.4 percent past the 2015 record for a total of 17.55 million vehicles sold, according to a tally by Autodata. The total was helped by a busy December shopping period, during which consumers traditionally seek year-end discounts.
Many auto makers reported sales gains in the final month of the year, for a combined 3.1 percent rise in the US market. Light trucks and sport utility vehicles were up 8.3 percent compared to the year-ago period, while passenger cars were down 4.
7 percent.
For 2016 sales, Ford reported its best year in a decade, while Nissan and Honda said they sold a record number of cars in the US. Toyota and GM bucked the trend, with their total sales in 2016 down from the year earlier.
Still, GM remained upbeat about the prospects for 2017. "Key economic indicators, especially consumer confidence, continue to reflect optimism about the US economy and strong customer demand continues to drive a very healthy US auto industry," GM Chief Economist Mustafa Mohatarem said in a statement.
"We believe the US auto industry remains well-positioned for sales to continue at or near record levels in 2017."
Related Topics
Recent Stories
Nazish Jahangir denies viral screenshots, calls them fake
Govt likely to hike electricity price once again
Bismah Maroof announces immediate retirement from international cricket
Malala expresses unwavering support for Gaza people
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
More Stories From World
-
Kremlin says Ukraine access to ATACMS will not impact outcome of conflict
10 minutes ago -
Scottish leader scraps coalition deal with Greens
10 minutes ago -
US announces sweeping cuts to power sector carbon emissions
1 hour ago -
US to give Micron $6.1 bn for American chip factories
1 hour ago -
Venice launches five-euro entry fee
1 hour ago -
New Godzilla x Kong film continues to lead Chinese box office
1 hour ago
-
2024 Zhongguancun Forum opens in Beijing to focus on cutting-edge technologies
1 hour ago -
Philippines grapples with measles, pertussis outbreaks: UNICEF
2 hours ago -
450,000 stimulant tablets seized in Myanmar's Yangon
2 hours ago -
Mining giant Anglo American shares jump on BHP bid
2 hours ago -
Cambodia's rubber export up 5.1 pct in Q1
2 hours ago -
Zimbabwean president reshuffles cabinet
2 hours ago