Car and Truck Sales

April 4, 2024

Unit car and truck sales fell 1.3% in March to 15,489 thousand after having jumped 5.5% in February.  The supply challenges that had curtailed car sales for more than two years has ended.  The supplier delivery component of the purchasing managers’ index actually fell below the 50.0 level for the first time in October of 2022 meaning that manufacturers were actually seeing faster deliveries, and it is currently at the breakeven 50.0 level.

We expect GDP growth of  2.5% in the first two quarters of this year.  Steady gains in employment and higher wages should keep the economy going.

Stephen Slifer

NumberNomics

Charleston, SC