- December U.S. auto sales came in at a selling rate of 18.4M annual units, according to Autodesk. The forecast from analysts was for a 17.7M pace.
- Solid months for GM (NYSE:GM), Ford (NYSE:F), Nissan (OTCPK:NSANY), Toyota (NYSE:TM) and Honda (NYSE:HMC) also pushed the auto parts sector into rally mode.
- "Key economic indicators, especially consumer confidence, continue to reflect optimism about the U.S. economy and strong customer demand continues to drive a very healthy U.S. auto industry," notes GM's chief economist Mustafa Mohatarem.
- Both Ford and GM reported solid inventory positions, although inventory spending was elevated.
- Investor took notice, with GM +5.5% and Ford +4.6% on the day. Honda rose 3.6%, while Toyota and Nissan were both up around 2%. Tesla (NASDAQ:TSLA) rode news of a buzzing Gigafactory to a 4.6% gain.