Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending. Why Investors Care
| Released on 2/1/07 For Jan 2007 | ||||||||||||
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Highlights
Vehicle sales held steady in January at a 12.6 million annual rate, a bit lower than expectations but in line with recent months. Sales of trucks dipped a bit to a 7.3 million rate while car sales firmed to 5.3 million. Despite trouble at Ford and GM, vehicle sales have been solid and have helped underpin consumer spending, evident in this morning's personal consumption data for December where auto sales gave an important boost to durable goods.
Motor vehicle sales have surprised many with recently strong numbers as sales jumped to a 12.7 million annual rate in December from 12.1 million in November. Strong sales recently have translated into healthy orders and production numbers and another healthy month of sales will be seen as giving manufacturing a solid boost.
Motor vehicle sales Consensus Forecast for January 07: 12.9 million-unit rate
Range: 12.7 to 13.1 million-unit rate
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Motor vehicles sales slowed notably in 2006 as a result of higher interest rates and a jump in gasoline prices but remained at reasonable levels due to strong income growth. Late in 2006 and in early 2007, gasoline prices were down from 2006 highs but moderating economic growth kept sales from rebounding. Truck shares hit their peak in 2005 when gasoline was cheap and remain sharply lower since gasoline prices spiked in 2006. |
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