Motor Vehicle Sales: Decline Slightly
March 1, 2016
Bottom Line: Motor vehicle sales fell slightly in February after increasing last month. Domestic sales fell while imported vehicle sales were unchanged. The January/February sales average is now 7.7% annualized below its Q4 average of 17.8 million, suggesting a modest deceleration in consumer auto spending in Q1. Motor Vehicle Sales FELL by 0.2% in February to 17.4 million units annualized, compared with market expectations for a larger increase to 17.7 million. Vehicle sales are now 6.8% ABOVE their year ago level and have been on an improving trend over the past 5 years. In February, sales of automobiles FELL by 0.6% to 7.2 million units while sales of light trucks FELL by 0.1% to 10.3 million units. Domestic motor vehicle sales FELL by 0.4% to 13.7 million units. Sales of domestic automobiles FELL by 0.5% to 5.4 million while sales of domestic light trucks FELL by 0.2% to 8.3 million. Imported motor vehicle sales were UNCHANGED at 3.7 million units. Sales of imported automobiles FELL by 0.6% to 1.7 million units while sales of imported light trucks ROSE by 0.5% to 1.9 million.
Article by contingentmacro