US light vehicle sales edge down in October
US light vehicle sales fell in October from the prior month, reflecting little impact from a strike by the United Auto Workers (UAW) that targeted the Big 3 automakers.
Sales fell to a 15.5mn seasonally adjusted annual unit pace in October from a 15.7mn rate in September, according to the Bureau of Economic Analysis. That compared with a 14.7mn unit rate in October last year. Sales for the year peaked at a 16.1mn unit rate in June.
Sales were little impacted by the UAW strike that began 15 September and was paused in the last week as inventories were high heading into the strike. The strike targeted Ford Motor, General Motors and Stellantis, along with car parts producers. All three auto companies reached tentative agreements with the UAW that included double-digit pay raises for workers over the life of the contract and which union members must ratify.
Sales of light trucks fell to a 12.4mn unit rate in October from a 12.5mn rate in September. They were up from an 11.65mn rate in October last year.
Sales of autos fell to a 3.1mn unit rate in October from a 3.2mn rate in September and compared with a 3.04mn rate in October last year.
Domestic auto production fell to a seasonally adjusted 153,000 units in September from 160,100 units in August. Production is reported with a one-month lag to sales.
By Robert Willis
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