Vehicles Sales increase to 15.83 million SAAR in December; Up 17% YoY

Wards Auto released their estimate of light vehicle sales for December: December U.S. Light-Vehicle Sales Hit 5-Month High; Entire 2023 Totals 4-Year Best 15.5 Million (pay site).

Labor-related plant shutdowns in the U.S. that covered the latter half of September and most of October negatively impacted deliveries in November. Combined sales of the vehicles impacted by shutdowns fell 15% year-over-year in November. If those vehicles had matched year-ago results, sales would have totaled a 15.9 million-unit SAAR. While CUVs accounted for over half the market for the second time ever, vehicles impacted by the strikes were largely behind weakness in pickups, SUVs and vans.

Click on graph for larger image.

This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for December (red).

Sales in December were up 3.3% from November, and up 16.8% from December 2022.

The second graph shows light vehicle sales since the BEA started keeping data in 1967.

Vehicle sales are usually a transmission mechanism for Federal Open Market Committee (FOMC) policy, although far behind housing.  This time vehicle sales were more suppressed by supply chain issues and are up year-over-year.

Sales in December were above the consensus forecast.