Macro: Auto Sales — It’s All About Inventory Replenishment

Image Source: UnsplashCorporate GovernanceSales firmed to an annual rate 16.23 million units in September after dropping below 16 million in August. This is about 7% higher than the historic average. Buyers delayed purchases because of price spikes and lack of inventory.The more interesting and important data are the production and inventory numbers. Production continues to rise as companies try to re-build inventory. Perhaps they are also trying to get out in front of the strikes?A ways to go to normalized levels.More By This Author:Macro: Inflation – High Frequencies And Crude Keep Powell Up At Night Macro: GDP Q3Macro: Inflation Measures PCE And GDP Deflator