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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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 7/1/05 For Jun 2005 | |||||||||||||||||||||
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Highlights
High gas prices, now past $2.20 per gallon, haven't hurt demand for big vehicles -- at least not in June. Sales of light trucks at GM soared in June, up 50% from May and thanks to a memorable incentive program -- "Employee Discount For Everyone" -- which is still underway. GM posted its best month in nearly 20 years.
But without GM's incentives, June would probably have been flat. Ford, which has yet to match GM's incentives, saw truck sales drop sharply in the month. Results at other car makers were spread between losses and gains.
The burst at GM does little for the production outlook. The company is clearing away old inventory, but probably not in preparation for new vehicles. Remember both GM and Ford are posting large losses.
The results gave a lift to GM shares in the session but had no wider impact on the markets. Retail sales data are due later up in the month, and the headline number -- that is including autos -- should be a blockbuster.
Motor vehicle sales fell 5 percent in May to a 13.2 million-unit rate with sales falling for both light trucks and autos. Autos were sold at a 5.3 million-unit rate while light trucks were sold at a 7.9 million-unit rate during the month. With high gasoline prices, one would expect improved sales gains for cars and fewer purchases of gas-guzzling SUVs.
Auto sales Consensus Forecast for June 05: 5.5 million-unit rate
Range: 5.4 to 5.6 million-unit rate
Light truck sales Consensus Forecast for June 05: 8 million-unit rate
Range: 7.7 to 8.1 million-unit rate
![[Chart]](chart.gif)
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Motor vehicle sales remained in the same range in 2004 as 2003. Consumers continue to buy more SUVs than cars: note the share of light trucks (as a percent of the total) increased in 2004 despite rapidly rising gasoline prices. |
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