New light-vehicle sales continued to fall in July. The SAAR for the month came in at 16.82 million units, down slightly from July of last year.
Although sales will continue to be strong this year, new orders for Class 8 trucks have begun to slow due to cooling freight and economic growth.
Three fewer selling days in June resulted in an increased SAAR for the month, but there was a decrease in the total number of units compared to June 2018. June sales of 1.51 million units sold represents a decrease of 1.9%.
NADA Market Beat: Despite a Solid May Sales Performance, U.S. Light-Vehicle Sales Down 1.8% Year-to-Date
New light-vehicle sales in May surprised many in the industry. The SAAR of 17.31 million units for the month represents an increase of 0.7% compared to May 2018.
Commercial vehicle sales continued to post gains in the first quarter of 2019 with sales up by 12.7%.
After a sluggish start to the year due to the federal government shutdown and several weather-related events, the seasonally adjusted annual rate (SAAR) of sales in March was at a strong 17.48 million units—bringing the SAAR for the first quarter up to 16.94 million.
Last week, an item in Automotive News, that many readers may have glossed over, nearly caused me fall out of my chair.
Through February, new light-vehicle sales were down 2.5% compared to this time last year. The monthly SAAR of 16.53 million units represented the lowest monthly SAAR since February 2015.
A recent article by employees of the New York Federal Reserve Bank’s Research and Statistics Group provided an update (of sorts) on the state of auto lending at the end of 2018.