US light vehicle sales rise in January

US seasonally-adjusted sales of light vehicles rose for a second month, while non-seasonally adjusted sales decreased as the Covid-19 pandemic continued to affect sales, the Bureau of Economic Analysis said today.

Seasonally-adjusted sales of light vehicles reached a 16.6mn rate in January, an increase from 16.2mn in December, the BEA said. Sales were down from the previous January tally of 16.9mn units. Sales then plummeted to an 8.7mn unit rate in April, when carmakers were shutdown and consumers were in lockdown because of the Covid-19 pandemic. Sales have been on the mend since then, as the economy recovers.

Seasonally adjusted, sales of light trucks rose to a 12.93mn annualized unit pace in January from a 12.6mn unit pace in December and compared with a 12.5mn unit rate in January of 2020.

Autos sales rose in January to a seasonally adjusted rate of 3.7mn-units, up from a 3.63mn rate in December. Sales registered a 4.36mn unit rate during the previous January.

January non-seasonally adjusted sales of light trucks and autos fell to 1.09mn units, the lowest mark since the all-time low of 715,300 units sold during April. January's tally was down from 1.61mn units sold during December, and down from 1.14mn units sold during January of the previous year.

Non-adjusted light truck sales decreased to 851,500 units during January, the lowest level since June. Sales were down from 1.27mn units the previous month, but up from 843,300 units sold in January 2020.

Seasonally-adjusted US auto production in December fell to 177,000 units from a unit rate of 190,600 the previous month, and 212,100 units sold the previous January. Auto production figures are reported with a one-month lag.

By Jason Metko