August 20, 2013 U.S. light vehicle sales up 14% in July
A good indicator of how Utah car and truck sales are faring are sales nationwide. U.S. cars and light trucks rose 14% in July compared to the same month a year earlier. Automakers sold 1.32 million units in July 2013 (Table 1). On an annualized basis this equals more than 15 million units (Chart 1).
All of the top five automakers increased sales by more than 11% in July. Honda sold 141,439 units for an increase of almost 21% over July 2012. Once again the biggest automaker, General Motors, increased sales by 16.3% to 234,071 units.
Among the top models, the Chevrolet Cruze, saw the biggest percentage gain, 70.2%, to 25,447 units (pictured below). The second largest gain went to the Chevrolet Silverado. Its 45.2% gain in July indicates that many consumers are not especially worried about gasoline prices. The largest number of sales went to the Ford F-Series, with 60,449 units, were up 22.6% over last year.
Second quarter 2013 car and light truck dealer sales should be released next week, so if any of you are interested in specific dealer sales, please give me a call.
Economic Policy Analyst