Automakers’ '03 Sales Off To Sluggish Start
A potential war with Iraq and an incentives-led sales blitz in December have led to a sluggish start for auto sales in January, and analysts say that may lead to even more bargains for buyers, according to an Associated Press report.
Goldman Sachs & Co. said in a report this week that January's U.S. sales will be down 2 percent compared with last January and some 14 percent off December's torrid pace, AP reported.
Merrill Lynch's John Casesa said in a research note Jan. 23 that GM's end-of-the-year push has left it short of inventory. Casesa predicts the automaker's sales will be off some 8 percent in January, according to AP.
The U.S. auto industry had its fourth-best sales year ever in 2002, selling 16.8 million cars and other light vehicles.
Merrill Lynch expects non-Big Three sales to increase slightly in January for a market
share gain for imports of about 1 percent to 39 percent after sizable share losses in December, AP said.
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