Macro Flash Report

Auto Sector

Takeaway: 

October Auto Sales finally broke above the 16M annualized rate, while September figures for production and inventories point to some stabilization.

Wards Total Vehicle Sales

In October, Wards Total Vehicle Sales soared to 16.04M, up from 15.77M sales in the prior month and exceeding the market expectations of 15.80M. This marks the first time surpassing the 16M level since May 2021.

Auto Inventories & Production

In September, Auto Production climbed to 123.9 from 121.5 in the prior month. This marks the second consecutive month of increases and the highest level since March.

Auto Inventory edged lower, slipping to 214.78 from 217.33 in August. This marks the second consecutive month of declines in inventory since peaking in July at 268k, which is the highest level since April 2021.

U.S. New Auto 60-Month Loan – National Average

On September 27th, the weekly US Auto 60 Month Rate National Average fell to 7.27%, its lowest rate since June. Since then, it stabilized and has now started ticking slightly higher with the most recent weekly rate of 7.31% on October 31st.