US Auto Sales Weaker than Expected for December

December US auto sales failed to meet expectations but annual sales still registered as the best year since 2007. December sales were up just 0.3 percent but automakers were pleased with the 7.6 percent overall gains for 2013. The seasonally adjusted annual rate of 15.6 million units was well below the 16.0 million predicted by analysts and the 16.4 million SAAR of November but within the range forecast by those in the auto industry. Severe winter weather and the late Thanksgiving holiday sales took their toll on December volumes.

Sales for 2014 are expected to reach between 16 million and 16.5 million, but with potentially lower profit as keen competition pushes automakers to offer higher buyer incentives.