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Economy in Brief
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
U.S. Mortgage Loan Applications Rebound; Interest Rates Steady
The MBA total Mortgage Applications Volume Index increased 4.9% last week (1.0% y/y), ...
Japan’s Trade Surplus Returns Even As Trade Flows Slow
While the IMF has just lifted its outlook for growth in 2018, Japan is logging weaker and weaker export and import growth as the year progresses...
by Tom Moeller October 1, 2013
Vehicle sales gave back some of their earlier strength last month. Unit sales of light motor vehicles fell 5.1% (+3.4% y/y) during September versus August to 15.28 million (SAAR) according to the Autodata Corporation. The latest sales level was the lowest since April.
Auto sales declined 3.9% m/m (+2.6% y/y) to 7.72 million last month. Domestic car sales were off 5.1% (+2.3% y/y) to 5.35 million while sales of imports fell 1.0% (+3.1% y/y) to 2.37 million. Light truck sales fell 6.2% (+4.2% y/y) in September to 7.56 million. Domestic light truck sales declined 7.3% (+2.7% y/y) to 6.46 million. To the upside, sales of imported light trucks ticked 0.4% higher month-to-month (13.9% y/y) to 1.10 million.
Imports share of the U.S. light vehicle market jumped m/m to 22.7% in September, its highest level since May of last year. (Imported vehicles are those produced outside the United States.) That share remained down, however, from its peak of 29.9% in Q1'09. Imports' share of the U.S. car market improved m/m to 30.7% but remained down from its 37.6% monthly peak in 2010. Imports' share of the light truck market improved to 14.5% last month.
U.S. vehicle sales figures can be found in Haver's USECON database.
Light Vehicle Sales (SAAR, Mil. Units) | Sep | Aug | Jul | Y/Y % | 2012 | 2011 | 2010 |
---|---|---|---|---|---|---|---|
Total | 15.28 | 16.09 | 15.80 | 3.4 | 14.49 | 12.78 | 11.59 |
Autos | 7.72 | 8.03 | 7.94 | 2.6 | 7.42 | 6.23 | 5.77 |
Domestic | 5.35 | 5.64 | 5.63 | 2.3 | 5.10 | 4.21 | 3.76 |
Imported | 2.37 | 2.39 | 2.30 | 3.1 | 2.32 | 2.02 | 2.01 |
Light Trucks | 7.56 | 8.06 | 7.87 | 4.2 | 7.08 | 6.55 | 5.82 |
Domestic | 6.47 | 6.97 | 6.71 | 2.7 | 6.10 | 5.55 | 4.86 |
Imported | 1.10 | 1.09 | 1.16 | 13.9 | 0.97 | 1.00 | 0.96 |