US light vehicle sales at 3.5-year high in Nov

: Metals
24/12/04

Domestic sales of light vehicles in November reached their highest level in over three years, rising to a seasonally adjusted rate of 16.5mn on the strength of greater truck purchases.

Sales of light vehicles — trucks and cars — increased from a seasonally adjusted rate of 16.3mn in October, the Bureau of Economic Analysis reported today. Last month's rate was the highest since 17mn in May 2021 and greater than the 15.5mn unit rate in November 2023.

Declines in borrowing costs and improved sentiment about the US economy following Donald Trump's presidential election victory spurred consumers to spend more last month. Still, the prospect of higher tariffs and growing geopolitical tensions — induced by Trump's trade policies — could reignite inflation next year and tamp down buying.

Truck sales rose by 2.5pc sequentially to a 13.5mn unit rate in November, while sales of cars edged lower by 2.9pc to a 2.96mn unit rate in the same timeframe.

Domestic auto production slipped to a seasonally adjusted rate of 122,500 in October from 123,900 in September. That compared with 134,700 in October 2023. Auto assemblies are reported with a one-month lag to sales.

By Alex Nicoll

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24/12/04

Brazil's economy accelerates to 4pc growth in 3Q

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24/12/04

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24/12/03

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24/12/03

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