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| Motor Vehicle Sales |
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Released on 6/2/2009 For May, 2009
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Prior | Consensus | Consensus Range | Actual |
| Domestic Vehicle Sales | 6.9 M | 7.0 M | 6.5 M to 7.2 M | 7.3 M |
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Highlights
Vehicle sales proved very strong in May compared to April, at a total domestic and import annual rate of 9.9 million units vs. April's 9.3 million. This is very good news for next week's May retail sales report where an overall gain would end two straight months of disappointment. An indication of improving consumer strength is special strength in truck sales, this despite a 20 percent jump in gasoline prices during the month.
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Market Consensus Before Announcement
Sales of domestic-made motor vehicles were unchanged in April, at a 6.9 million unit adjusted annual sales rate. Sales at now bankrupt Chrysler showed severe month-to-month contraction. However, imports slipped back to a 2.5 million pace, sizably down from 2.9 million in March. With Chrysler in bankruptcy and GM seen headed that way in May, sales are likely to be weak.
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Definition
Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending.
Why Investors Care
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![[Chart]](showimage.asp?imageid=17676)
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Motor vehicles sales slowed notably in 2006 as a result of higher interest rates and a jump in gasoline prices but remained at reasonable levels due to strong income growth. Late in 2006 and in early 2007, gasoline prices were down from 2006 highs but moderating economic growth kept sales from rebounding. Truck shares hit their peak in 2005 when gasoline was cheap and remain sharply lower since gasoline prices spiked in 2006.
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Data Source: Haver Analytics
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