Thursday, December 3, 2020

Tag: Auto Sales Tank Again In June – It’s Worse Than Headline Reports

Auto Sales Tank Again In June – It’s Worse Than Headline Reports

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by Dave Kranzler, Investment Research Dynamics:
June auto sales on a “SAAR” basis (seasonally adjusted annualized rate) fell 1.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from May to 16.5 million “SAAR.” The non-SAAR number available from sources like Autonews.com show a 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year over year drop from June 2016. The year over year comparison for the same month eliminates seasonality and it eliminates statistical errors compounded by the annualization calculation.

It was the 6th month in a row that auto sales declined. June’s 16.5 million SAAR was 11.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} below the all-time high of 18.7 million SAAR (December 2016). This is a large decline that is not being given much attention in the financial media.