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 4/3/07 For Mar 2007 | ||||||||||||
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Highlights
Car and light truck sales proved a bit on the soft side in March, at a combined 12.2 million annual rate but still indicating respectable health for consumer spending. Hybrid sales at Toyota helped the month's results as did solid sales at other transplants. But sales at the Big Three, despite hopes for stability, continued to contract. Retail sales will be released at mid-month.
Motor vehicle sales came in at a 12.6 million annual rate for February - with a 4.9 million rate for cars and a 7.7 million rate for light trucks. Recent strength in personal income could translate into higher sales - although the rebound in gasoline prices will likely cut into light trucks' share.
Motor vehicle sales Consensus Forecast for March 07: 12.7 million-unit rate
Range: 12.6 to 12.9 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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