U.S. Light Vehicle Sales Beats May Estimate

When thinking about Michigan industry, a discussion of automotive manufacturing is sure to follow. It is our state’s largest industry and home to one of five U.S. auto manufacturing jobs. According to the federal Bureau of Labor Statistics, Wayne County alone has more auto manufacturing jobs than any state except Kentucky. With our State’s economy heavily dependent on the auto industry, the Seasonally Adjusted Annual Rate (“SAAR”) of auto sales published by the U.S. Bureau of Economic Analysis is an important metric to follow as a determinate of our economic health. As of May, the SAAR rate of vehicle sales came in at 17.4 million, well above the 16.9 million forecast. This metric points to continued manufacturing expansion in our state. If you have clients outgrowing their traditional financing options, we can help.

U.S. Light Vehicle Sales Beats May Estimate