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January Auto Sales: American-Made

By Jennifer Coombs

While not nearly as strong as the holidays, the level of car sales in January gives us the first indication for softer retail sales in January’s economy. The number of cars and light trucks sold in the month of January declined by 1.2%, month-over-month. This resulted in a seasonally adjusted annual rate (SAAR) of 16.7 million versus the 16.9 million SAAR in December 2014. Weakness was centered on foreign-made cars, where sales declined by 8.8% to a SAAR of 3.1 million. On the other hand, domestic-made vehicle sales fell 0.7% to a 13.5 million rate. This report ultimately points to a second month of weakness for the motor vehicles component of the government's monthly retail sales report, which fell 0.7% in December. Retail sales numbers will be released on Thursday, February 12th