Despite rising gasoline prices, January shapes up to be a very strong month for car sales. Edmunds.com Chief Executive Jeremy Anwyl told Dow Jones Newswire that the seasonally adjusted annualized rate (SAAR) for the month was looking “very strong” at 12.8 million vehicles as of last week, and was higher than December. That is a surprise: January sales typically are lower than December sales.
Edmunds sees Kia the biggest winner so far. BMW is taking it on the chin: A huge year-end sales event is taking its toll.
As far as fuel prices go, Edmunds thinks they could put a crimp into SUV and truck sales that had a strong rebound last year. Remember: Big cars, big profit. Small cars, small profit.