Strongest Auto Sales Since 2007

A blog about business and economics.
July 2 2013 1:50 PM

June Auto Sales Post Strongest Number Since 2007  

170464667
BERLIN, GERMANY - JUNE 13: Woo new car!

Photo by Clemens Bilan/Getty Images

Preliminary figures are out and it looks like June 2013 will be the best month for light vehicle sales since December 2007, with gains in sales pretty much across the board for auto makers. An interesting wrinkle is that the biggest sales surge has been in full-sized trucks, which is perhaps a secondary consequence of the revival in house-building and continued oil-related work.

Even the comparison to the December 2007 month is a bit misleading, however, because those sales came at a time when the economy was clearly getting weaker. Auto-makers launched really strong incentive programs to unload excess vehicles whose production had been ordered in more optimistic times. Todays sales are being led by good old fashioned increased demand for cars and trucks, not by discounting.

Advertisement

It's another sign that the economy is on track for okay growth. The risk is that the Federal Reserve will see okay growth as an excuse for tighter money, and then we'll keep bouncing up and down. What they ought to do is accept some good news as good news and then stay the course.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

Politics

Don’t Worry, Obama Isn’t Sending U.S. Troops to Fight ISIS

But the next president might. 

The Extraordinary Amicus Brief That Attempts to Explain the Wu-Tang Clan to the Supreme Court Justices

Amazon Is Officially a Gadget Company. Here Are Its Six New Devices.

The Human Need to Find Connections in Everything

It’s the source of creativity and delusions. It can harm us more than it helps us.

How Much Should You Loathe NFL Commissioner Roger Goodell?

Here are the facts.

Altered State

The Plight of the Pre-Legalization Marijuana Offender

What should happen to weed users and dealers busted before the stuff was legal?

Surprise! The Women Hired to Fix the NFL Think the NFL Is Just Great.

You Shouldn’t Spank Anyone but Your Consensual Sex Partner

Moneybox
Sept. 17 2014 5:10 PM The Most Awkward Scenario in Which a Man Can Hold a Door for a Woman
  News & Politics
Altered State
Sept. 17 2014 11:51 PM The Plight of the Pre-Legalization Marijuana Offender What should happen to weed users and dealers busted before the stuff was legal?
  Business
Business Insider
Sept. 17 2014 1:36 PM Nate Silver Versus Princeton Professor: Who Has the Right Models?
  Life
Outward
Sept. 17 2014 6:53 PM LGBTQ Luminaries Honored With MacArthur “Genius” Fellowships
  Double X
The XX Factor
Sept. 17 2014 6:14 PM Today in Gender Gaps: Biking
  Slate Plus
Slate Fare
Sept. 17 2014 9:37 AM Is Slate Too Liberal?  A members-only open thread.
  Arts
Brow Beat
Sept. 17 2014 8:25 PM A New Song and Music Video From Angel Olsen, Indie’s Next Big Thing
  Technology
Future Tense
Sept. 17 2014 9:00 PM Amazon Is Now a Gadget Company
  Health & Science
Medical Examiner
Sept. 17 2014 11:48 PM Spanking Is Great for Sex Which is why it’s grotesque for parenting.
  Sports
Sports Nut
Sept. 17 2014 3:51 PM NFL Jerk Watch: Roger Goodell How much should you loathe the pro football commissioner?