Nissan Motor has shocked analysts with a massive decline in US sales for April, dragging down a market that may have otherwise held steady last month.
Deliveries by the automaker plunged 28% as almost every Nissan and Infiniti model saw a decline, Bloomberg said.
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Ford and FCA beat analysts' estimates but GM has stopped supplying monthly results and won't report again until the end of the second quarter. Most analysts are expected to estimate its sales.
"Our eyes are bugging out here," Autotrader senior analyst Michelle Krebs told Bloomberg. "[Nissan has] been very heavy with rental car sales and rich incentives. It looks like they're pulling back."
There were two fewer selling days, excluding Sundays and holidays, last month than in April 2017.
Bloomberg said analysts were expecting declining deliveries across the industry but had projected an annualised sales rate (SAAR) of about 17m.
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By GlobalDataSales of Nissan's usually top selling sedan, the Altima, almost halved year on year while its leading sport utility vehicle, the Rogue [X-Trail in other markets], dropped 15%.
Charlie Chesbrough, senior economist for Cox Automotive, told just-auto: "If we leave Nissan out of the story, the month looks fairly strong with a SAAR in the low 17m level, as forecast. With two fewer selling days, the market was generally flat, or down only slightly. Nissan's results, however, will negatively impact the SAAR for the month. Overall, the economy is relatively strong and supporting a healthy sales rate."
