Sales of new cars and trucks in the United States likely set new records for December and the full year, automakers said on Wednesday. Bobbi Rebell reports.
Strong demand for pickup trucks and SUVs put U.S. auto sales on track to new records for December and the full year. General Motors' sales surprised with an eight percent spike, with strong sales of large SUVs, such as the Chevrolet Tahoe. Ford beat forecasts, and said 2016 results will break a record high set in 2015. The F-series was the best-selling model line in the United States last year, for the 40th year in a row. Fiat Chrysler's sales slid ten percent. Analysts thought they would plunge up to 15 percent. The fall partly due to ending production of several sedans. Eric Lyman of TruCar: (SOUNDBITE) ERIC LYMAN, VICE PRESIDENT, INDUSTRY INSIGHTS, TRUECAR, INC., (ENGLISH) SAYING: "We know that incentives were really ratcheted up in the last weeks of the year to clear out inventories that have been building up over the last few months." Shares of General Motors and Ford jumped on the news.