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Economy in Brief

U.S. Vehicle Sales Recover Modestly
by Tom Moeller  July 5, 2012

Unit sales of light motor vehicles during June rose 2.2% to 14.08M (SAAR). The increase made up half of May's decline according to Autodata Corporation. The latest was slightly higher than the Consensus estimate for 13.9M sales, according to Bloomberg.

Light truck sales rose 2.7% (19.9% y/y) to a recovery high of 7.11M. Domestic truck purchases jumped 3.7% (22.8% y/y) to 6.14M but sales of imported light trucks fell 2.0% (+4.3% y/y) to 0.99M. Auto sales increased 1.5% m/m (23.4% y/y) to 6.96M. Domestic car sales rose 5.6% to 4.92M (26.8% y/y) while imports fell 6.8% (+17.1% y/y) to 2.05M.

Imports' share of the U.S. light vehicle market fell further to 21.4% in June, the lowest since 2006. (Imported vehicles are those produced outside the United States.) That share was down from its peak of 29.9% in Q1'09. The lower foreign exchange value of the dollar played a role as it made imports relatively more expensive. Imports' share of the U.S. car market fell m/m to 29.5%, its lowest since 2006, and was down from its 38.1% peak in 2010. Imports' share of the light truck market fell to 13.6% last month, down from its 23.9% peak in early '09.

The U.S. vehicle sales figures can be found in Haver's USECON database.

 

Light Vehicle Sales (SAAR, Mil. Units) Jun May Apr Y/Y % 2011 2010 2009
Total 14.08 13.78 14.42 21.8 12.78 11.58 10.38
 Autos 6.96 6.86 7.47 23.4 6.24 5.79 5.45
  Domestic 4.92 4.66 4.96 26.8 4.22 3.78 3.56
  Imported 2.05 2.20 2.50 17.1 2.02 2.00 1.89
 Light Trucks 7.11 6.92 6.95 19.9 6.54 5.79 4.93
  Domestic 6.14 5.92 5.96 22.8 5.55 4.84 3.96
  Imported 0.97 0.99 0.99 4.3 1.00 0.96 0.97
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