U.S. auto assemblies remain flat   

Annualized U.S. assemblies of autos and light trucks increased from 7.6 million in June to 8.5 million in July (seasonally adjusted). Assemblies have been relatively flat for the last 15 months ranging between 7.5 and 8.6 million units annualized (seasonally adjusted). Non-seasonally adjusted assemblies of 6.05 million annualized in July were the lowest since July 2009. Our graph is a 3-month moving average of the seasonally adjusted annualized assemblies. Year over year percentage growth using the three-month moving average is nearly zero. Average monthly seasonally adjusted assemblies were 11.4 million from January of 2001 through December of 2007 indicating that auto assemblies are still at depressed levels.