X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. — According to a NAFCU Macro Data Flash, total vehicle sales for November reflect the worst performance since the early 1980s. Total vehicle sales fell from 10.5 million annualized units in October to 10.1 million. Over the past 12 months, sales were down by 37%. Car sales dropped from 5.5 million annualized units in October to 4.9 million in November. Light truck sales increased from 5.0 million annualized units to 5.2 million. While all of the six large automakers reported a decline in year-over-year sales in November, Chrysler experienced the biggest decline in sales with 47%. Ford reported the smallest year-over-year decline with 30%. Month-over-month General Motors sales remained flat at 2.1 million units in November on a seasonally adjusted annualized basis. Ford saw a vehicle sales increase of 0.1 million annualized units. Honda, Toyota and Nissan all saw a decline in November with a loss in sales of 0.1 million annualized units. “U.S. vehicle manufacturers are cutting back production in an attempt to align sales with output. Unfortunately, they cannot sustain such low sales figures without some government assistance,” said Tun Wai, NAFCU chief economist.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Peter Westerman

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.