US auto sales expected to hit an all-time high in 2015

For full year 2015, US sales hit a record of 17.47 million vehicles, breaking the mark of 17.41 million vehicles in 2000, according to Autodata Corp.

WINNERS AND LOSERS: General Motors led all automakers in the US last year, with sales up 5 per cent to just over 3 million cars and trucks.

Sales growth was driven by the company’s Jeep brand, which jumped 42% year-over-year. The company did better appealing to individual American buyers: It reported an 8 percent gain in retail sales for the year, while it cut back on less-profitable sales to rental-car companies by 11 percent.

Nissan posted an eight percent gain in December at 139,300 while its 2015 sales rose seven per cent to 1.4 million.

Net income in the quarter plunged 22% to $25.1 million or 21 cents per diluted share compared to $32.2 million or 27 cents per share from the same quarter past year. That was slightly ahead of Ford Canada, whose annual sales were down 4.6 per cent at 278,437, while General Motors Canada saw its sales climb 5.4 per cent to 263,335.

Ford Motor Co. reported its sales increased 8.3% to 237,606 vehicles for the Detroit auto maker’s best December.

Ford Motor Co.’s F-Series pickups rose 15 percent for the month as the trucks remained the top-selling vehicle line, reaching 780,354 deliveries for the year.

Fiat Chrysler sales jumped 13 per cent in December to 217,527 while 2015 sales were up seven per cent at 2.2 million vehicles.

Japanese auto makers also contributed to the month’s robust results, rolling out double-digit percentage increases over the year-ago period.

“Consumers, despite the economic headwinds, are looking at the value proposition available in the new auto market and they’re responding with record levels of demand”, noted Michael Hatch, chief economist for the Canadian Automobile Dealers Association. Nissan experienced its best ever December showing due to an increase in light truck demand in the United States. “FCA US sales have now grown annually for the past six years”. Nissan’s sales were up 19 percent.

We’ll keep an eye on sales throughout the day and update you if 2015 breaks the record.

Analysts surveyed by Bloomberg, both at consumer auto information resources such as Kelley Blue Book, True Car, and Edmunds and at big investment banks like Goldman Sachs and JP Morgan, are pegging the December sales pace in the high 17-million to low 18-million range. GM’s sales growth in December was also lighter than expected. The firm estimates new-vehicle sales in December rose 13% to 1.7 million units for a seasonally adjusted annual rate of 18 million for the fourth consecutive month.

Increased interest rates, a glut of off-lease units lowering used-car prices and rising manufacturer incentive spending could stem new-car sales momentum.

Low gas prices, historically low interest rates and a stronger economy are fueling the boom.

“We think the next couple of years are going to continue to be very healthy ones for the auto industry”, he told CNNMoney.