From the course: Economic Indicators

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Auto sales

Auto sales

From the course: Economic Indicators

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Auto sales

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- One of the most expensive purchases you can make is to buy a vehicle. This is why there are a lot of advertisements for cars on TV, on the radio, in the paper, and online. Companies want you to buy their new cars. New car purchases are good for the economy, too, because new cars sales become part of U.S. Gross Domestic Product or GDP. Unfortunately, used car sales don't contribute to GDP. But because new sales do contribute to U.S. economic growth, new vehicle sales are important for economic data. Sales data is called Lightweight Vehicle Sales, which includes monthly sales for cars and light trucks, which also includes SUVs. The number of vehicles sold is released at the very beginning of the next month. In other words, cars sold in June will be released at the very beginning of July. And the number of cars sold is not quoted in dollars, nor is it the actual number of cars sold. Instead, the vehicle sales number is a seasonally adjusted annual rate or a SAAR. That means that the…

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