Newsroom
May 04, 2016
Vehicle sales improved in April
Total vehicle sales in April rebounded from March's rate of 16.6 million annualized units to 17.4 million seasonally adjusted annualized units. According to Kelley Blue Book, this was the highest volume of new cars ever sold for the month of April, noted NAFCU Research Assistant Yun Cohen.
Sales levels were up 4 percent in April compared to a year ago, according to data published Tuesday by Autodata Corp.
Car sales increased from March's 6.91 million annualized units to 7.06 million annualized units in April. Despite the improvement, April car sales were still below recent averages. Meanwhile, sales of light trucks climbed from 9.66 million annualized units to 10.36 million annualized units.
"Despite a slight uptick in gas prices recently, the mix of purchases continued to tilt away from cars and toward trucks and SUVs," Cohen said in a NAFCU Macro Data Flash report. "Sales are likely to remain strong in 2016 with support from cheap fuel prices, low interest rates and an improving labor market."
Five of the six largest automakers saw year-over-year sales growth. Honda reported the largest gain in sales at 14.4 percent, followed by Nissan (+12.8 percent), Fiat Chrysler Automobiles (+5.6 percent), Toyota (+3.8 percent) and Ford (+3.6 percent). General Motor's sales were down 3.5 percent versus last year, as the company pulled back on rental fleets.
The U.S. brand share of the total vehicle market increased from March's rate of 45 percent to 45.7 percent in April. The share of domestically assembled vehicles decreased from 80 percent to 79.5 percent.
Sales levels were up 4 percent in April compared to a year ago, according to data published Tuesday by Autodata Corp.
Car sales increased from March's 6.91 million annualized units to 7.06 million annualized units in April. Despite the improvement, April car sales were still below recent averages. Meanwhile, sales of light trucks climbed from 9.66 million annualized units to 10.36 million annualized units.
"Despite a slight uptick in gas prices recently, the mix of purchases continued to tilt away from cars and toward trucks and SUVs," Cohen said in a NAFCU Macro Data Flash report. "Sales are likely to remain strong in 2016 with support from cheap fuel prices, low interest rates and an improving labor market."
Five of the six largest automakers saw year-over-year sales growth. Honda reported the largest gain in sales at 14.4 percent, followed by Nissan (+12.8 percent), Fiat Chrysler Automobiles (+5.6 percent), Toyota (+3.8 percent) and Ford (+3.6 percent). General Motor's sales were down 3.5 percent versus last year, as the company pulled back on rental fleets.
The U.S. brand share of the total vehicle market increased from March's rate of 45 percent to 45.7 percent in April. The share of domestically assembled vehicles decreased from 80 percent to 79.5 percent.
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