US Truck Sales Jumped 12% in September 2017
September 2017 US auto sales
According to the latest data compiled by Autodata, September 2017 US auto sales (XLY) stood at 1.52 million vehicle units, about 6.1% higher than the US auto sales of ~1.43 million vehicle units in September 2016. Total September US vehicle sales figures were also higher than the 1.5 million vehicle units sold in August 2017.
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Truck sales rose 12.4%
In September 2017, US small car sales continued to disappoint and fell 3.3% YoY (year-over-year) to 0.56 million units. In contrast, truck and UV (utility vehicles) sales rose to 0.97 million units with a handsome increase of 12.4% on a YoY basis. September US auto sales were partly supported by higher demand from Hurricane-affected areas as people looked for vehicle replacement options. According to a Reuters report, up to 700,000 vehicles were damaged or destroyed in Hurricane Harvey and Hurricane Irma.
In the last few years, US UVs and truck sales have gone up as compared to the sales of small cars in the country. Despite weakening small car sales, solid September truck sales could keep optimism alive among auto investors.
In the first three quarters of 2017, US auto sales fell 1.8% YoY to 12.9 million vehicle units. The US is the largest single auto market in the North America region, and it is also the second largest market in the world after China. Mainstream automakers such as Ford (F), Toyota (TM), Fiat Chrysler Automobiles (FCAU), and General Motors (GM) earn a large portion of their revenues from the US market.
In this series, we’ll explore September 2017 US sales figures of key automakers. We’ll understand what these sales numbers could mean for these companies’ future growth prospects. Also, we’ll look at what Wall Street analysts are recommending for these US automakers’ stocks after their September sales data releases.
In the next part, we’ll begin by looking at Ford’s September 2017 US sales data.