Domestic Sales for New Autos Continue to Decline

Domestic sales for new autos continued to decrease from June to July. According to the latest figures from the Bureau of Economic Analysis (BEA), U.S. automotive unit retail sales dropped slightly by 5.8 percent, or 23,400 units, on a month-over-month basis.

Year over year, domestic auto sales dropped 13.2 percent to 379.0 thousand in July 2017 from 436.6 thousand in July 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)
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
July 2017 379.0 99.97 379.1 4.549

Source: Bureau of Economic Analysis

The Bureau of Labor and Statistics (BLS) also updated the consumer price index for July 2017. The index for motor vehicle maintenance and repair increased year over year by 1.3 percent. Month over month figures represent an uptick of .1 percent.

The index for insurance continues an upward trajectory, increasing by 7.6 percent on a year-over-year basis. June to July also increased, up .2 percent.

Consumer Price Index: Insurance and Repairs

The index for motor vehicle repairs and insurance.

  Unadjusted percent change

July 2016-July 2017

Unadjusted percent change

May 2017-June 2017

Motor Vehicle Maintenance and Repair 1.3 0.1
Motor Vehicle Insurance 7.6 0.2

Source: Consumer Price Index

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