Steel Markets
November 15, 2022
US Light Vehicle Sales Gain More Momentum in October
Written by David Schollaert
US light vehicle (LV) sales grew in October, coming in at an unadjusted figure of 1.15 million units. Last month’s total was a 9.5% increase year-on-year (YoY), the US Bureau of Economic Analysis (BEA) reported. October was the third consecutive month to see YoY increases in sales. Prior to August, YoY sales gains had not been seen since July 2021.
LV sales were also up 9.8% month-on-month (MoM) in October, rising to an anualized 14.9 million units. This was the second-best result all year, beating the consensus forecast of 14.5 million units.
