This is above expectations, a high for the year, and brings the 2014 average up to just over 16 million annual rate, making up for the winter slowdown.
Motor Vehicle Sales
In an early signal of strength for June economic data, vehicle sales rose 1.2 percent in June to a 17.0 million annual rate which is the strongest rate since way back in July 2006. Sales of both North American-made and foreign-made vehicles rose in the month with domestic cars and imported trucks showing special strength. Today’s data point to yet another strong gain for the motor vehicle component of the retail sales report which rose 1.4 percent in May.
By Bill McBride
Based on an WardsAuto estimate, light vehicle sales were at a 16.9 million SAAR in June. That is up 7% from June 2013, and up 1% from the 16.7 million annual sales rate last month.
This was above the consensus forecast of 16.4 million SAAR (seasonally adjusted annual rate).
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