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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 10/3/05 For Sep 2005 | |||||||||||||||||||||
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Highlights
Vehicle sales in September proved much as expected, at a 5.6 million rate for cars and a 7.3 million rate for light trucks. Sales remain firm but are well down from the "employee-price" discounts of June and July. Sales at GM and Ford were soft as were in fact sales at the transplants.
Last week's personal income data showed a third month of record low savings, an indication that consumers are tapping out their piggy banks, their credit cards and the equity in their homes. Future growth in vehicle sales may depend on gains in employment and real wages.
Domestic motor vehicle sales plunged to a 13.3 million-unit rate in August from July's 17 million-unit rate despite the fact that incentives were still going strong. Consumer confidence plunged in September, but we often believe that motor vehicle sales are a better indicator of consumer optimism (or pessimism) that consumer attitude surveys.
Auto sales Consensus Forecast for Sept 05: 5.5 million-unit rate
Range: 5.3 to 5.6 million-unit rate
Light truck sales Consensus Forecast for Sept 05: 7.5 million-unit rate
Range: 7.4 to 7.7 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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