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 7/3/07 For Jun 2007 | ||||||||||||
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Highlights
Vehicle sales were soft in June, in line with what appears to have been a soft month for other retailers and which points to no better than flat results for the month's retail trade data a week from Friday. Sales of light trucks, at a 6.5 million annual rate for those made in the U.S., failed to pick up in the month despite a roughly 20 cent dip in gasoline prices to just under $3 per gallon. Car sales were likewise soft at a 5.1 million rate. The combined 11.6 million rate compares with 12.2 million in May. Sales at GM were especially soft with Ford and Chrysler doing little better. Japanese brands did very well with sales of German sports cars mixed.
Motor vehicle sales dipped to a 12.2 million annual rate in May, down from 12.4 million in April. Higher gasoline prices appear to have cut into sales overall and have boosted auto sales at the expense of the light trucks category - which includes SUVs and minivans. Car sales rose to 5.5 million units from 5.0 million in April while light trucks dropped to 6.7 million units from 7.4 million in April. These rates are for U.S.-made vehicles only.
Motor vehicle sales Consensus Forecast for June 07: 12.4 million-unit rate
Range: 12.0 to 12.7 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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