Except for CFC, Auto Sales Reach 2-Year High
Vehicle sales were released today for September, and here are some highlights:
1. On a "seasonally-adjusted annual rate" basis, total U.S. light vehicle sales increased to 11.76 million units in September, which was 2.55% higher than August, and 25.4% higher than September last year (see chart above).
2. Except for the artificial sales stimulus of "cash-for-clunkers" (CFC) in August 2009 when sales topped 14 million (at an annual rate), September vehicle sales reached the highest monthly level in two years.
3. Ford and Chrysler led the automakers in September with sales increases of 46.4% and 60.9%, respectively, compared to the same month last year.
4. Light truck sales were especially strong in September, with a 40.8% increase over last year. See related CD post "The Pickup Truck Indicator: Recovery is Real."
5. Year-to-date vehicle sales this year are 10.3% ahead of last year.