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GM, Ford, Toyota sales fall in December, but auto industry posts surprisingly solid 2018
Thursday January 3, 2019
USA Today, Jan. 3, 2019 — U.S. auto sales appear to have enjoyed a surprising, albeit slight, uptick in 2018, according to analyst estimates.
With automakers reporting their full-year and December sales on Thursday, analysts said the industry likely outperformed their original expectations despite concerns about a cooling global economy and rising interest rates.
Edmunds.com estimated full-year sales of 17.3 million vehicles, while Cox Automotive projected a “modest uptick” to 17.2 million. Sales totaled about 17.2 million in 2017.
Low unemployment, tax cuts and cheaper gas prices paved the way for the industry to deliver another strong year, according to Cox Automotive economist Jonathan Smoke.