Newsroom
As NAFCU anticipated, vehicle sales continue strong in April
Total vehicle sales stayed strong in April growing from 18 million annualized units to 18.5 million during the month. Monthly sales levels were up a massive 112.2 percent year-over-year. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the positive report in a new Macro Data Flash report.
“Vehicle sales continued their rise in April to 18.5 million annualized units, with an upward revision to March's numbers,” said Long. “More good news on the vaccine front, including cities and states planning full reopening of businesses, will power a hot economy this summer with a nation anxious to travel and move around.”
Car sales rose this month from 3.9 million annualized units to 4.1 million, while light truck sales grew to 14.4 million annualized units.
Light truck sales have reached a record high and are up 113 percent year-over-year. More trucks were sold this month than total vehicles sold in June 2020. Car sales are up 109.4 percent year-over-year.
“Pent-up demand will be a factor for months to come, while people returning to work in offices will fuel that further in the summer and fall," Long added. "Supply issues have yet to affect sales growth but could be a factor later in the year. Interest rates remain low, and the economic outlook is bright. NAFCU expects very strong vehicle sales through the end of the year."
For more up-to-date economic updates from NAFCU's award-winning research team, view NAFCU's Macro Data Flash reports.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.