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Economy in Brief

Employee Discounts Spurred U.S. Vehicle Sales
by Tom Moeller August 3, 2005

US sales of light vehicles were spurred in July as a result of aggressive price discounts offered by car manufacturers. The program titled "employee discounts" raised the selling rate to 20.86M, its highest since October 2001 according to the Autodata Corporation.

Sales of US made cars and trucks jumped 22.1% m/m and 23.3% y/y. The gain was led by a 27.3% m/m jump in sales of domestically made trucks while car sales rose 12.9%.

Sales of imported cars & trucks also posted a strong 6.4% m/m gain last month to the highest level this year though imports' share of the US market for new vehicles fell sharply to 17.5%, the lowest since 2002.

Overall auto sales jumped 10.7% m/m and truck sales surged 24.9%.

Light Vehicle Sales (SAAR, Mil. Units) July June Y/Y 2004 2003 2002
Total 20.86 17.53 21.0% 16.88 16.63 16.81
  Autos 8.10 7.31 8.0% 7.49 7.62 8.07
  Trucks 12.76 10.22 31.1% 9.39 9.01 8.74
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