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2009 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Event Definitions | 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 2/1/05 For Jan 2005 | |||||||||||||||||||||
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Highlights
With December's incentives off, sales of U.S.-made cars and light trucks fell back sharply as expected in January, selling at a combined annual rate of 13 million, down 12 percent from December.
Especially severe weather through much of the country may have further softened sales, which continue to bounce back-and-forth from month-to-month.
Trucks sales at a 7.6-million rate were 3 tenths under expectations while cars at 5.4 million were 1 tenth above. Chrysler did well on cars, showing a 9.3 percent month-to-month gain -- the best showing on the month's charts.
But like Ford and GM, sales of Chrysler trucks dropped sharply -- down 23 percent.
Sales of light GM trucks fell 33 percent with car sales down 18 percent. Ford sales were in the middle, splitting the difference between Chrysler and GM. Foreign brands did no better than the Big Three.
The results are expected and won't boost estimates for retail sales data later this month. The average consumer, worried about gas prices and their job, will continue to need incentives to buy vehicles.
Sales of domestic motor vehicles surged 13.1 percent in December to a 14.7 million unit rate. Domestic auto sales rose to a 5.9 million unit rate in December, rising to their highest monthly rate since December 2002. Light trucks were sold at an 8.8 million unit rate, faster than in the two previous months but less than September's 9 million unit pace. Last year, sales dropped in January after a strong December.
Light truck sales Consensus Forecast for Jan 05: 7.9 million unit rate
Range: 7.6 to 8.3 million unit rate
Domestic auto sales Consensus Forecast for Jan 05: 5.3 million unit rate
Range: 4.5 to 5.7 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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