US light vehicle sales at peak rate in October

US sales of light trucks and automobiles edged up to a seasonally adjusted annual rate of 17.5mn units in October, the highest rate of the year, led by increased auto sales.

The sales rate compared with a 17.4mn unit rate in September and 17.9mn in October 2017, according to the Bureau of Economic Analysis.

Auto sales rose to a 5.5mn unit rate, the highest since January, from 5.27mn rate the prior month but down from 6.24mn in October last year.

Sales of light trucks fell to a seasonally adjusted pace of 12mn units in October from a 12.2mn rate the prior month. They rose from 11.6mn in October last year.

Not seasonally adjusted, light vehicle sales fell to 1.36mn units in October from 1.4mn units the prior month. They were at 1.35mn units in October last year.

Sales of light trucks fell to 942,000 units from 1mn units in September and up from 891,000 units in October last year, not seasonally adjusted.

Sales of automobiles fell to 414,100 units in October from 429,100 units in September and down from 458,500 units in October last year, not seasonally adjusted.

Seasonally adjusted auto production rose to 231,500 units in September from 209,000 units the prior month. Output is reported with a lag.

Seasonally adjusted US auto exports rose to 96,100 units in August from 88,500 units in July.

US auto imports from Canada were at 72,100 units in August, while seasonally adjusted imports from Mexico were at 88,000.