Car sales increased in January

by calculated risks 01/25/2023 02:48:00 PM

From WardsAuto: US light vehicle sales rose for the fifth consecutive month in January; Q1 forecast for a profit of 4% (payment content). Brief excerpts:

The bottom line is that crude volume is growing, albeit slowly, with annual gains expected in January, as well as the entire first quarter. Due to the chaos of the past three years, the high in January rose to A 15.6 million units seasonally adjusted annual rate From 13.4 million in December it is More as a result of the disruption of typical seasonal trends towards the end of the year than the sudden surge in demand.

Affirmations added

Click on the chart for a larger image.

This graph shows BEA’s actual sales (blue), and Ward’s forecast for January (red).

The Wards predicted it would come in at 15.6 million SAR, up 17% from last month, and up 3% from a year ago.

Car sales are usually a transmission mechanism for FOMC policy, away from housing. This time car sales were more suppressed by supply chain issues, but now sales are also likely to be affected by higher interest rates.

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