U.S. Total Vehicle Sales
Chart of the Week for February 5, 2016 - February 11, 2016
U.S. vehicle sales in January 2016 were 17.9 million units on a seasonally adjusted annualized rate ("SAAR") basis. They have been strong over the last twelve months, increasing 5% compared to January 2015, and the January 2016 sales number is 40% higher than January 2011 as shown in the chart above. Sales of cars was relatively unchanged from December 2015, but light truck sales increased during the month, as low gasoline prices helped the light truck sector. Economists noted that strength in vehicle sales helped offset weakness in other areas of the U.S. economy such as energy production (hurt by falling energy prices) and exports (hurt by the strength of the U.S. Dollar).
Steadily improving employment conditions, both more jobs created and higher wage growth, were strong supports for increased U.S vehicle sales. Other factors that supported strong vehicle sales include ample access to credit and generous incentive spending.
Posted by: sarah_oz@yahoo.com
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