Newsroom
As NAFCU anticipated, vehicle sales continue strong in April
Total vehicle sales stayed strong in April growing from 18 million annualized units to 18.5 million during the month. Monthly sales levels were up a massive 112.2 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the positive report in a new Macro Data Flash report.
“Vehicle sales continued their rise in April to 18.5 million annualized units, with an upward revision to March's numbers,” said Long. “More good news on the vaccine front, including cities and states planning full reopening of businesses, will power a hot economy this summer with a nation anxious to travel and move around.”
Car sales rose this month from 3.9 million annualized units to 4.1 million, while light truck sales grew to 14.4 million annualized units.
Light truck sales have reached a record high and are up 113 percent year-over-year. More trucks were sold this month than total vehicles sold in June 2020. Car sales are up 109.4 percent year-over-year.
“Pent-up demand will be a factor for months to come, while people returning to work in offices will fuel that further in the summer and fall," Long added. "Supply issues have yet to affect sales growth but could be a factor later in the year. Interest rates remain low, and the economic outlook is bright. NAFCU expects very strong vehicle sales through the end of the year."
For more up-to-date economic updates from NAFCU's award-winning research team, view NAFCU's Macro Data Flash reports.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.