New US car sales hit record high in 2016

PUBLISHED : Thursday, 05 January, 2017, 7:24am
UPDATED : Thursday, 05 January, 2017, 7:24am

New car sales in the United States hit an all-time high of 17,550,351 units in 2016, up 0.4 per cent from the previous year, data released by Autodata Corp. showed Wednesday.

Auto sales reached a record high for the second consecutive year, also surpassing the 1.7 million mark for the second year in a row. It was the seventh straight year of sales growth.

An expanding US economy contributed to new car sales, together with low interest rates on auto loans and cheaper gasoline prices. Demand for sport-utility vehicles and pickup trucks stayed strong.

Among Japanese carmakers, Honda, Nissan and Fuji Heavy Industries saw their US car sales reach new record highs. In contrast, Toyota Motor’s sales were down 2.0 per cent.

For December alone, new car sales in the country came to 1,690,429 units, a rise of 3.1 per cent from a year earlier.