Courtesy of Mish.
According to the Wall Street Journal auto sales in April were down.
This morning, Bloomberg Econoday said last month’s sales were “easily beatable”. By mid-afternoon, Bloomberg said sales were down but one needed to wait for the final numbers.
When the final numbers were posted, auto sales were purportedly up, and down.
Motor Vehicle Sales Bloomberg Econoday
Let’s kick things off with a look at Bloomberg Econoday reporting of motor vehicle sales.
Highlights
The consumer kept up pace in May, purchasing vehicles at roughly the same rate as in April. Total unit sales came in at a 17.5 million annualized rate vs 17.4 million in April with North American-made at 13.7 million vs 13.8 million. These are not sizzling numbers but the month-to-month comparison is what counts most. Today’s results point to no significant change for the motor vehicle component of the monthly retail sales report.
Recent History
Unit vehicle sales jumped 4.8 percent in April, giving a major boost to the month’s retail sales report. Unit vehicle sales for May, however, are expected to hold at April’s 17.4 million annualized rate which would point to no change for the motor vehicle component of the retail sales report. Yet April’s 17.4 million rate is easily beatable, surpassed in eight of the last 11 months.
“Easily Beatable”
It turns out things were not so “easily beatable”. Overall sales barely eked out a gain while domestic sales eked out a a small loss.
