NOT GOOD: GM, Ford, Chrysler, and Nissan sales all miss expectations (F, GM, FCAU, TM)
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Throughout the day, the big automakers will release their US auto sales stats.
And so far, the numbers are looking a little light.
Sales from Fiat Chrysler, Nissan, Ford, and General Motors have each missed expectations so far.
The biggest miss was from Ford, which saw sales <span>unexpectedly fell 2.0%, much worse than expectations for a 5.8% jump.</span>
Fiat Chrysler's US auto sales increased by just 5.6% in February, missing analysts' expectations for 8.9%.
General Motors sales also missed expectations, rising 4.2% against estimates for a 5.9% sales increase, while Nissan's sales rose 2.7% against expectations for a 3.8% increase.
Analysts estimate that the pace of US auto sales improved to an annualized rate of 16.7 million units in February from 16.56 million in January.
From Morgan Stanley's Ted Wieseman: "Mid-month industry surveys have pointed to a slight pickup in sales in February after the dip in January to a 16.6 million unit annual rate following the best two combined months in December (16.8) and November (17.1) in nine years. Much colder weather in the second half of February was probably a drag."
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Here's our running tally of the numbers:
<ul>
<li>Fiat Chrysler: +5.6% (+8.9% estimated)</li>
<li>Nissan: +2.7% (+3.8% estimated)</li>
<li>Ford: -2.0% (+5.8% estimated)</li>
<li>General Motors: +4.2% (+5.9% estimated)</li>
</ul>
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