Vehicle market summary: U.S. outlook for full-year 2013
Sales of January-September 2013 period are at 11.78 million units, recovery continues backed by gradual improvement in economic situation
Passenger car and light truck sales in the US in the January-September 2013 period grew 8.1% year-over-year (y/y) to 11,786,000 units backed by a rise in replacement demand. This rise is thanks to a gradual improvement in the unemployment rate and a persistent low interest rate. By quarter, sales in the third quarter (July to September) increased 9.0% y/y, showing a steady increase from the first quarter (up 6.5%) and the second quarter (up 8.8%). The single-month sales in September dropped from the same month a year ago for the first time in 28 months (see Figure 2). This drop can be ascibed to two factors; The number of business days at dealers was two days less in September than those in 2012; A part of sales on Labor Day was registered as sales in August. However, the decrease was offset by strong sales in July and August.