Of the stories I said I would get back to later today, the only on that interests me at the moment is
from ArgusMedia: US sales of light trucks and automobiles decreased to a seasonally adjusted annual rate of 16.5mn units in February, as sales of sedans fell to a near 10-year low.
Wow.
More data points, February auto, light truck sales:
- sales in February at an 18-month low
Light trucks and automobiles:
- February, 2019: 16.5 million unit rate
- January, 2019: 16.7 million unit rate
- February, 2018: 16.9 million unit rate
It appears folks are getting ready for the Green Nude Eel.
Auto sales:
- February, 2019: 4.87 million unit rate
- January, 2019: 5.32 million unit rate
- February, 2018: 5.44 million unit rate
Light truck sales (includes SUVs):
rose
- February, 2019: 11.66 million unit rate
- January, 2019: 11.36 million unit rate
- February, 2018: 11.49 million unit rate
I might be misreading something here. The headlines across the board yesterday regarding auto sales were all "negative." They all suggested "sales were down." At least that's what I read. But then the narrative: sedan sales fell, but SUVs and light trucks rose. SUVs and light trucks have a (much) better profit margin than sedans, so what's the problem. Manufacturers are pushing SUVs and light trucks.
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