Causes for the month’s weaker results could have included some payback for December’s surge. However, affordability and inventory likely played roles, as availability remains well below historically normal levels for a market running at a 15-million-plus annualized rate, and at the same time interest rates for financing purchases are at long-time highs, the mix on dealer lots is weighted toward higher priced vehicles.
Click on graph for larger image.
This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for January (red).
Sales in January (15.0 million SAAR) were down 5.2% from December, and down 0.7% from January 2023.
This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for January (red).
Sales in January (15.0 million SAAR) were down 5.2% from December, and down 0.7% from January 2023.
Sales in January were below the consensus forecast.
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