Uptick in Domestic Auto Sales; Vehicle Repair and Insurance Prices Also Increase

Domestic sales for new autos experienced an uptick November to December. According to the latest figures from the Bureau of Economic Analysis (BEA), U.S. automotive unit retail sales increased by 6 percent, or 20,900 units, on a month-over-month basis.

Year over year, domestic auto sales dropped 18.2 percent to 366.6 thousand in December 2017 from 448.0 thousand in December 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)
Sept. 2017 410.1 97.80 419.3 5.031
Oct. 2017 350.2 87.14 401.9 4.823
Nov. 2017 345.7 89.85 384.7 4.616
Dec. 2017 366.6 100.06 366.3 4.396

Source: Bureau of Economic Analysis

The Bureau of Labor and Statistics (BLS) also updated the consumer price index for November 2017. The index for motor vehicle maintenance and repair increased year over year by 1.3 percent, while month-over -month figures remained stagnant.

The index for insurance continues an upward trajectory, increasing by 8 percent on a year-over-year basis. October to November also increased, up .8 percent.

Consumer Price Index: Insurance and Repairs

The index for motor vehicle repairs and insurance.

  Unadjusted percent change

Nov. 2016-Nov. 2017

Unadjusted percent change

Nov. 2017-Nov. 2017

Motor Vehicle Maintenance and Repair 1.3 0.0
Motor Vehicle Insurance 8.0 0.8

Source: Consumer Price Index

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