Early tabulations of US vehicle sales are in. The annual pace was 16.77 million, according to Autodata. That’s much stronger than the 16.1m consensus and the best pace since Feb 2007.
In the pre-crisis era, sales consistently ran in the 16-18m range so the healing is almost done, if this pace can be sustained. Then again, 7 years of pent-up demand probably makes the pace stronger than the sustainable underlying demand.
