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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 9/1/05 For Aug 2005 | |||||||||||||||||||||
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Highlights
Vehicle sales in August were strong enough for any particular month, but proved weak given aggressive incentives that may, after three months, be losing force. Sales of light trucks sold at a 7.8 million annual rate, well below the 9.2 rate expected. High gas prices may have taken their toll and may take an even greater toll in September, which is now seeing gasoline spike sharply in the Southeast.
Car sales were firm, at a 5.5 million rate and just ahead of expectations.
Among individual makers, GM posted big declines, while Ford and Chrysler saw mixed results. Japanese transplants did especially well.
But Katrina, and the big effect it's having on gas prices, diminishes the importance of August's data. The sales results though do underscore the risk that light truck sales may fall back further in September.
Motor vehicle sales jumped 22.1 percent in July to a 17.2 million-unit rate spurred by "employee discounts for everyone." Domestic autos were sold at a 5.8 million-unit rate while light trucks were sold at an 11.4 million-unit rate during the month. This could be another month of strong motor vehicle sales before they fall off with the end of the incentives in late September.
Auto sales Consensus Forecast for Aug 05: 5.4 million-unit rate
Range: 5.1 to 5.5 million-unit rate
Light truck sales Consensus Forecast for Aug 05: 9.2 million-unit rate
Range: 7.5 to 9.4 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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