US Truck Assemblies Hit An All Time High In May

Trump wanted an industrial boom in the US and in May he got it.

Last month, assemblies of trucks at US auto plants increased to the fastest pace in Federal Reserve data back to 1967, according to Bloomberg analysis.

On the heels of two solid months for total auto sales in March and April, truck assemblies climbed to a 9.84 million annualized rate, with light-duty pickups accounting for the advance.

Separate data showed inventories at auto dealers have declined six straight months through April, which may help explain the increase in vehicle output, if not where US consumers found the money to splurge on so many new cars (actually that was rhetorical: it was all auto loans as upcoming consumer credit reports will confirm). 

Vehicle assemblies were one of the few bright spots in the Fed’s industrial production report on Tuesday.

General Motors, which has increased output at its Indiana pickup plant, said that it plans to invest $4 billion in its US operations over the next two years in response to President Donald Trump’s tariffs.