Did you know?
Vehicle Miles Traveled In the US in August 2020 was down 12.3% compared to August 2019. That’s inline with the reports from June (down 13% compared to June 2019) and July (down 11.2%). As the chart shows, that’s much higher than it was in the middle of the lockdown. Cumulative miles traveled for the year are estimated to be down by 15.3%.
This data is from the Office of Highway Policy at the Federal Highway Administration. Given the high unemployment rate and an increase in working from home, it is unlikely that we will see a complete recovery during 2020. The summer months may have been helped by some people turning their summer vacations into road trips instead of air travel.
Auto and light truck sales are continuing their rebound. Take a look at the data from the US Bureau of Economic Analysis, via the Federal Reserve Bank of St. Louis.