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 12/3/07 For Nov 2007 | ||||||||||||
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Highlights
The consumer didn't hide and run in November, not at least based on the month's vehicle sales that showed a slight month-to-month increase with a U.S.-made annual rate of 12.2 million, up one tenth from a 12.1 million rate in October. Cars were a standout in the month, selling at a U.S.-made rate of 5.5 million, well above trend and reflecting a consumer shift toward cars and away from low mileage trucks. Truck sales came in at a 6.7 million rate, one of the lowest rates of the expansion. Imports are likely to add to November's results as two-thirds of import sales are cars. Today's data will firm expectations for solid though not spectacular results for November sales from chain stores, to be reported Thursday. Retail sales from the Commerce Department follow the next week.
Motor vehicle sales were flat in October coming in at a 7.1 million annual unit rate for U.S.-made light trucks and a 5.0 million rate for U.S.-made cars, levels that are slightly lower than September. With income growth slowing and gasoline prices rising, sales are likely to be sluggish in November.
Motor vehicle sales Consensus Forecast for November 07: 12.1 million-unit rate
Range: 11.7 to 12.5 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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