Auto Sales: Still Booming

Includes: F, GM, HMC, TM
by: Calafia Beach Pundit

September vehicle sales blew past expectations (13.04M annualized rate vs. 12.6M expected), while registering a sizable 11.2% increase in the past year, and a 14.3% increase since last June's low. This, despite the Japanese tsumani earlier this year that caused extensive supply-chain disruptions and resulted in a huge drop in sales from February through June. Suffice it to say that auto sales do not conform at all to the current narrative about the economy being on the ropes.

September sales were 40% higher than the low registered in February 2009, which works out to a 13.8% annualized gain.