US auto sales in July 2023
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.70 million in July 2023, down 0.37 million (2.3%) from June 2023, and up 18.0% from July 2022. About 1.30 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 15.3% more than in July 2022. Through July, 8.95 million have been sold in 2023, up 13.2% from the same months of 2022. Light trucks — pickups, SUVs, crossovers and vans — made up 79.6% of light-vehicle sales, compared with 79.6% a year earlier.
Sales breakdown
| July 2023 | Value | A year earlier | Change |
|---|---|---|---|
| Light vehicles, SAAR | 15.70M | 13.31M | +18.0% |
| · Cars (autos), SAAR | 3.20M | — | +17.7% |
| · Light trucks, SAAR | 12.50M | — | +18.0% |
| Heavy trucks, SAAR | 509K | 482K | +5.6% |
| Units sold in the month | 1.30M | 1.13M | +15.3% |
| Units sold, year to date | 8.95M | 7.91M | +13.2% |
| US assemblies, cars & light trucks, SAAR | 11.03M | 9.65M | +14.3% |
| Dealer & parts-store sales (month) | $134.7B | — | +4.9% |
SAAR = seasonally adjusted annual rate. Heavy trucks = total vehicle sales minus light vehicles (BEA's definition). Units sold are actual sales in the month, not seasonally adjusted.
Cars vs light trucks
Prices
| CPI, Jul 2023 | 12-mo | 1-mo |
|---|---|---|
| New vehicles | +3.5% | +0.1% |
| Used cars & trucks | -5.6% | -0.2% |
| Maintenance & repair | +12.7% | +1.0% |
Consumer price index for all urban consumers (BLS), not seasonally adjusted; red = costs rising for buyers. The CPI for a month is released mid-way through the next month, so it can trail the sales data.
Over the 12 months to July 2023, according to the consumer price index, new-vehicle prices rose 3.5%, used-car and truck prices fell 5.6% and maintenance and repair costs rose 12.7%.
Financing & inventories
Average finance rate on new-car loans at commercial banks (Federal Reserve G.19), surveyed in the middle month of each quarter; latest 2023-05.
July 2023 vs July 2022
Frequently asked questions
What was the US auto sales SAAR in July 2023?
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.70 million in July 2023, down 0.37 million (2.3%) from June 2023, and up 18.0% from July 2022. About 1.30 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 15.3% more than in July 2022.
How many cars were sold in July 2023?
About 1.30 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 15.3% more than in July 2022.
Sources: U.S. Bureau of Economic Analysis (vehicle unit sales), U.S. Bureau of Labor Statistics (consumer prices), Federal Reserve Board (G.19 auto loan rates, G.17 assemblies), U.S. Census Bureau (dealer sales), all via FRED, Federal Reserve Bank of St. Louis. Figures are revised by the agencies; this page shows the latest published values. Data checked Nov 6, 5:41 PM ET. Not investment advice.