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Economy in Brief

U.S. Vehicle Sales Reach Highest Level Since 2006
by Tom Moeller  July 1, 2014

June was a strong prelude to summer for auto-dealers. According to the Autodata Corporation, unit sales of light vehicles increased 1.2% (6.9% y/y) versus May to 16.98 million (SAAR), the highest level since January 2006. The gain raised sales by 10.3% since December and 87.7% since the recession low.

Auto purchases improved 3.1% (5.3% y/y) to 8.30 million after a 6.6% rise. Sales of domestic autos increased 4.2% (5.2% y/y) to 5.91 million after a 6.5% May gain. Sales of imports edged 0.6% higher (5.5% y/y) to 2.39 million following a 6.8% jump.

Sales of light trucks slipped 0.5% m/m (+8.6% y/y) to 8.69 million after a 2.8% rise. For the second consecutive month, imported light truck sales showed notable strength. The 7.1% increase (-1.6% y/y) to 1.14 million followed a similar gain in May. Domestic light truck sales declined 1.5% (+10.3% y/y) to 7.55 million and reversed most of the prior month's gain.

Imports' share of the U.S. light vehicle market improved to 20.8% last month. By vehicle type, imports' share of the U.S. car market fell to 28.8%. Imports' share of the light truck market increased to 13.1%.

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

Increasing House Values Playing Significant Role in Wealth Recovery from the Federal Reserve Bank of St. Louis is available here.

Light Vehicle Sales (SAAR, Mil. Units) Jun May Apr Y/Y % 2013 2012 2011
Total 16.98 16.77 16.04 6.9 15.55 14.49 12.78
 Autos 8.30 8.04 7.55 5.3 7.77 7.42 6.23
  Domestic 5.91 5.67 5.33 5.2 5.47 5.10 4.21
  Imported 2.39 2.37 2.22 5.5 2.29 2.32 2.02
 Light Trucks 8.69 8.73 8.49 8.6 7.79 7.08 6.55
  Domestic 7.55 7.67 7.51 10.3 6.71 6.10 5.55
  Imported 1.14 1.06 0.99 -1.6 1.08 0.97 1.00
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