Motor Vehicle Sales: Truck Sales Rebound, Near Cycle Highs Again
January 3, 2018
Bottom Line: After volatility following the hurricanes, truck sales rebounded more than expected in December. Car sales fell and remain in a downtrend, despite the upswing immediately following the hurricanes. But trucks sales held their gains and are near cycle highs again. Truck sales in early '18 will be critical for determining the trend in total vehicles sales, which for now is sideways to slightly lower. Motor Vehicle Sales FELL by 2.5% in October to 18.0 million units annualized, compared with market expectations for a larger decline to 17.5 million. In October, sales of automobiles FELL by 4.4% to 6.3 million units while sales of light trucks FELL by 1.5% to 11.8 million units.
- Domestic motor vehicle sales FELL by 2.2% to 14.0 million units.
- Sales of domestic automobiles FELL by 4.6% to 4.8 million while sales of domestic light trucks FELL by 0.9% to 9.2 million.
- Imported motor vehicle sales FELL by 3.9% to 4.0 million units.
- Sales of imported automobiles FELL by 3.9% to 1.5 million units while sales of imported light trucks FELL by 3.8% to 2.5 million.
Article by Contingent Macro Advisors