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Economy in Brief

U.S. Light Vehicle Sales Renew Positive Growth
by Tom Moeller  December 2, 2014

Sales of light vehicles improved 5.6% y/y to 17.20 million units (SAAR). Purchases were up 4.5% versus October when they totaled 16.46 million, little-changed from the prior month.

Purchases of light trucks recovered 6.3% (9.6% y/y) to 9.03 million units following a 2.3% October fall. Sales of domestically-produced light trucks improved 6.5% (11.8% y/y) to 7.89 million units while imported light truck sales gained 5.2% (-3.4% y/y) to 1.13 million, recovering most of October's drop.

Auto sales improved 2.6% versus October (1.5% y/y) to 8.18 million units. The gain repeated October's rise. Sales of domestically-produced autos gained 3.4% (8.1% y/y) to 6.08 million while sales of imports were unchanged (-13.7% y/y) at 2.10 million.

The import share of light vehicle sales skidded to 18.8%, its lowest reading since January 2006. Import's share of the auto market fell to 25.7%, down from 34.8% during all of 2010, while the import share of the light truck market held roughly steady at 12.6%.

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

Mixed Signals: Labor Markets and Monetary Policy from the Federal Reserve Bank of San Francisco is available here.

Light Vehicle Sales (SAAR, Mil. Units) Nov Oct Sep Y/Y % 2013 2012 2011
Total 17.20 16.46 16.43 5.6 15.56 14.49 12.78
 Autos 8.18 7.97 7.74 1.5 7.77 7.42 6.23
  Domestic 6.08 5.88 5.63 8.1 5.47 5.10 4.21
  Imported 2.10 2.10 2.12 -13.7 2.29 2.32 2.02
 Light Trucks 9.03 8.49 8.69 9.6 7.79 7.08 6.55
  Domestic 7.89 7.41 7.54 11.8 6.71 6.10 5.55
  Imported 1.13 1.08 1.15 -3.4 1.08 0.97 1.00
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