US auto sales in October 2023
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.37 million in October 2023, down 0.31 million (2.0%) from September 2023, and up 4.7% from October 2022. That was the slowest selling pace since March 2023. About 1.20 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 1.4% more than in October 2022. Through October, 12.81 million have been sold in 2023, up 12.9% from the same months of 2022. Light trucks — pickups, SUVs, crossovers and vans — made up 80.3% of light-vehicle sales, compared with 79.4% a year earlier.
Sales breakdown
| October 2023 | Value | A year earlier | Change |
|---|---|---|---|
| Light vehicles, SAAR | 15.37M | 14.69M | +4.7% |
| · Cars (autos), SAAR | 3.03M | — | +0.0% |
| · Light trucks, SAAR | 12.34M | — | +5.8% |
| Heavy trucks, SAAR | 476K | 510K | -6.7% |
| Units sold in the month | 1.20M | 1.18M | +1.4% |
| Units sold, year to date | 12.81M | 11.35M | +12.9% |
| US assemblies, cars & light trucks, SAAR | 9.29M | 10.51M | -11.7% |
| Dealer & parts-store sales (month) | $133.4B | — | -0.2% |
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, Oct 2023 | 12-mo | 1-mo |
|---|---|---|
| New vehicles | +1.9% | -0.2% |
| Used cars & trucks | -7.1% | -1.4% |
| Maintenance & repair | +9.6% | +0.2% |
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 October 2023, according to the consumer price index, new-vehicle prices rose 1.9%, used-car and truck prices fell 7.1% and maintenance and repair costs rose 9.6%.
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 2023-08.
October 2023 vs October 2022
Frequently asked questions
What was the US auto sales SAAR in October 2023?
US light-vehicle sales ran at a seasonally adjusted annual rate (SAAR) of 15.37 million in October 2023, down 0.31 million (2.0%) from September 2023, and up 4.7% from October 2022. That was the slowest selling pace since March 2023.
How many cars were sold in October 2023?
About 1.20 million new cars and light trucks were sold during the month (actual units, not seasonally adjusted), 1.4% more than in October 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.