Auto Sales Fall, Year-Over-Year In March, 2015 -- April 1, 2015

I always find it amazing how quickly the automobile manufacturers can get their monthly statistics posted. They always manage to do it the day after the end of the month. Think about that. Yesterday, at 4:00 p.m. in California folks were signing for new cars, and today, first thing, American auto manufacturers already have the data for March.

One of the big reasons why they can get his data out so fast: they do not give it to government bureaucrats who massage it, cross-check it, massage it again, until they get the number the administration is looking for.

I am also amazed how fast analysts can explain the data, having seen it for less than 24 hours. For example this explanation for the decrease in sales this March compared to last March:
" .... consumers who were slow to return to showrooms after a cold, snowy winter."
Really?

Had sales increased significantly, the analysts would have said, "the reason car sales surged in March, despite one less weekend, consumers were eager to get back to the show rooms after being cooped up indoors during much of this snowy winter."

This is what surprises me: March is coming out of winter, into spring. We should start to see more interest in cars -- every year, not just this year. But this year with gasoline prices bottoming out and everything suggesting gasoline prices will go even lower, consumers should be flocking to showrooms. Interest rates are still zero but there is talk that rates could rise; that should draw consumers into looking at big-ticket items sooner than later.

The one less weekend is a good explanation and that may account for the decrease in sales. 

The article linked above begins:

Sales declined for most automakers in March, including Ford and General Motors, even though the industry remains on track to sell about 17 million new cars and trucks this year -- the most since the Great Recession.

In March, weak industry were largely caused by one fewer weekend falling in the month compared with last year and consumers who were slow to return to showrooms after a cold, snowy winter.