by calculated risks 11/22/2020 02:58:00 PM
From WardsAuto: US light vehicle sales slowed in November from the previous month; Still refer to stronger Q4 (paid content). Brief excerpts:
Despite being saddled with pickups, inventory will rise again in November, raising expectations that the year will end on a strong note by overcoming challenges including headwinds related to the economy, rising prices, a potential rail workers’ strike and more.
Click on the chart for a larger image.
This graph shows BEA’s actual sales (in blue) and Ward’s forecast for November (in red).
The Wards expected it to be SAR 14.5 million, down 3% from last month, but up 11% from a year ago (sales slumped in the second half of 2021, due to supply chain issues).
Car sales are usually a transmission mechanism for FOMC policy, away from housing. However, this time, car sales have been suppressed by supply chain problems, and sales are likely not to be greatly affected by the interest rate hike.