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Stock impact report

Beginning Of The End? Auto OEMs Miss March Sales 'Bigly' As Stocks Tumble [zero hedge]

NISSAN MOTOR LTD S/ADR (NSANY) 
US:NASDAQ Investor Relations: nissan-global.com/en/ir
Company Research Source: zero hedge
Despite continued heavy incentive spending, every auto OEM, with the exception of Nissan, missed their sales forecasts for the month of March.  The "D3" were the biggest losers of the month with GM sales up 1.6% YoY vs. estimates of +7.0% while Ford sales dropped -7.2% and Fiat Chrysler declined -5.0%.  Car sales were even worse with industry volumes down 10.6% overall versus light truck sales that were up 5.2% according to Autodata.As Bloomberg points out, the massive sales misses come even though there "were a lot of incentives during the month" which will almost certainly result in further production cuts.The results cast doubt on expectations that industrywide U.S. auto sales would bounce back following declines in the first two months of the year. Carmakers are using heavy discounts to try to trim inventory that’s swelled to the highest level in more than a decade. GM has dialed back output of cars such as the Chevrolet Cruze, while Fiat Chrysler is eliminating models including t Show less Read more
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