Except for CFC, Auto Sales Reach 2.5 Year High
January vehicle sales were released today, and here are some highlights:
1. On a "seasonally-adjusted annual rate" basis, total U.S. light vehicle sales increased to 12.62 million units in January, which was 0.56% higher than December, and 17.4% higher than January 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), January vehicle sales reached the highest monthly level since August 2008, almost two and-a-half years ago.
3. Both GM and Chrysler had sales increases of 22.7% in January compared to the same month last year, and almost all of the major automakers had double-digit increases, e.g. Ford (+13.2%), Toyota (+17.3%), Honda (+13%), and Nissan (+14.8%).
4. Light truck sales were once again especially strong in January, with a 28.5% increase over last year compared to a 7.0% increase in passenger cars. See related CD post "The Pickup Truck Indicator: Recovery is Real."
1 Comments:
http://cr4re.com/charts/charts.html?Retail#category=Retail&chart=VehicleSalesLongJan2010.jpg
extend that chart back a bit further and it becomes apparent just how low the current level still is.
apart from the the rest of this recession, this would be about he lowest level for 30 years and is still at what was the bottom of the 91 recession despite 22% population growth over that period.
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