Recent Stats Show Decline in Auto Sales and Increase in Insurance and Repairs

Domestic auto sales experienced a slight decrease from May to June. According to the latest figures from the Bureau of Economic Analysis (BEA), U.S. automotive unit retail sales dropped by 8.3 percent, or 36,200 units, on a month over month basis.

Year over year, domestic auto sales dropped by 11.4 percent to 402.4 thousand in June 2017 from 454.0 thousand in June 2016.

Here are the BEA’s latest figures:

Motor Vehicle Unit Retail Sales: Domestic Autos

Not seasonally adjusted (Thousands)

Combined seasonal, trading-day factor

Seasonally adjusted  (Thousands) Seasonally adjusted at annual rates (Millions)
March 2017 454.4 116.58 389.8 4.678
April 2017 416.3 103.82 401.0 4.812
May 2017 438.6 114.14 384.3 4.611
June 2017 402.4 110.38 364.6 4.375

Source: Bureau of Economic Analysis

The Bureau of Labor and Statistics (BLS) also updated the consumer price index for June 2017. The index for motor vehicle maintenance and repair increased year over year by 1.4 percent. Month over month figures, however, represent a slight decrease by .4 percent.

The index for insurance continues an upward trajectory, increasing by 7.7 percent on a year over year basis. May to June also saw an uptick, with an increase of .8 percent.

Consumer Price Index: Insurance and Repairs

The index for motor vehicle repairs and insurance.

  Unadjusted percent change

June 2016-June 2017

Unadjusted percent change

May 2017-June 2017

Motor Vehicle Maintenance and Repair 1.4 -0.4
Motor Vehicle Insurance 7.7 0.8

Source: Consumer Price Index

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