Today is the day that most automakers will be announcing their sales figures for April 2010. Sector analysts have projected a range of just below to just above 1,000,000 cars sold and a SAAR of about 11.2 million. I have stated that I feel sales will be just north of 1,000,000.
GM has announced their numbers, and that could give at least some indication as to where the overall sales landscape will be by day's end. Ford will post their number later this afternoon. GM's sales for April came in at 183,091 compared to 185,406 in March and 42% better than a year ago.
The numbers reported by GM now seem to support estimates that were made that auto sales for March show stability. The company was aggressive over the past month, so some caution is merited, but the news would seem to indicate another healthy month for the auto channel. This is great news for satellite radio, as about 60% of cars manufactured include satellite radio.
I had previously indicated that I felt Ford would outpace Toyota for the month. The key to stability in the sector rests with just how well the other auto makers performed. SiriusBuzz will update this news as it is released.
Position - Long Sirius XM Radio