Core Report | February 24, 2023

After sliding the previous four months, U.S. light vehicle production increased in January totaling 797,110 units, up 7.9% from December and up 12.2% from the same time last year. This is the tenth consecutive month in which production increased on a year-over-year basis and the highest January production total since 2020, just before the pandemic threw a curveball into all supply chains. Shipments of both cars and light trucks increased, climbing 6.1% and 8.3%, respectively. The boost in light truck production pushed it to a three month high.