March Automobile Sales: Who Should We Believe?

Here are two different articles based on the same story: March automobile sales. You can decide who is telling the truth.

David DeGerolamo

Strong car sales signal automakers’ comeback

The Big Three U.S. automakers all reported strong March sales, as buyers flocked to dealerships in numbers not seen in years to buy everything from fuel-efficient small cars to large pickups.

When other automakers report March sales later Tuesday, it is expected to cap the best quarter for auto sales in the United States since early 2008, before the combination of a gas price spike and the meltdown in financial markets devastated sales and nearly led to the end of the U.S. auto industry.

More…

But then reality sets in as Zerohedge.com posts what is really happening:

The Latest Parabolic Chart – GM Channel Stuffing

Uh, what is going on here? Is GM trying to stuff its dealers with so many vehicles it makes the AAPL parabolic chart appear flat as a pancake?

And somehow GM misses street expectations of a 19% Y/Y increase in March sales, posting an 11% increase to 231,052 total GM vehicles. Total GM sales in February were 209,306. In other words, net of the 46K cars “stuffed”, GM would have posted a sequential decline in sales?

      
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