US light vehicles sales came in at 17.2 mn units for the month of December, as per the sales data reported by WardsAuto and BEA seasonal adjustment factors.
4.7% m/m slump drove total sales to underperform consensus expectations of 18.0mn. Auto sales dropped 5.3% m/m, to 7.1mn (saar), and light truck sales were down 4.2% m/m, to 10.1mn (saar).
The disappointing December outturn is considered as bringing the rate of sales back to a more sustainable pace, after four straight record making months.
"The data lowered our tracking estimate of Q4 real consumption growth one-tenth, to 2.2%, and also trimmed our estimate of total equipment investment. Our Q4 GDP tracking estimate fell one-tenth after rounding, to 1.2%", says Barclays in a research note.
