Down barely from October; Up 11% 12 months-over-year

by Calculated Threat on 11/22/2022 02:58:00 PM

From WardsAuto: November U.S. Mild-Car Gross sales to Gradual from Prior Month; Nonetheless Level to Stronger This autumn (pay content material).  Transient excerpt:

Though closely laden with pickups, stock will rise once more in November, lifting the prospects that the yr ends on a powerful notice by overcoming challenges together with myriad economy-related headwinds, excessive costs, potential railroad labor strike and others.

Click on on graph for bigger picture.

This graph exhibits precise gross sales from the BEA (Blue), and Wards forecast for November (Pink).

The Wards forecast of 14.5 million SAAR, can be down 3% from final month, however up 11% from a yr in the past (gross sales weakened within the second half of 2021, as a result of provide chain points).

Car gross sales are normally a transmission mechanism for Federal Open Market Committee (FOMC) coverage, far behind housing.  Nevertheless, this time, automobile gross sales have been suppressed by provide chain points, and gross sales will in all probability not be considerably impacted by increased rates of interest.