Recent Updates

  • Croatia: Core CPI, Consumer Confidence (Sep)
  • Canada: Wholesale Trade (Aug), Nonresidential Building Construction (Q3)
  • Canada Regional: Wholesale Trade by Province (Aug)
  • Morocco: CPI (Sep)
  • Palestine: Public Debt (Sep-Prelim)
  • Bangladesh: CPI (Sep)
  • Luxembourg: Employment and Unemployment (Sep)
  • Ukraine: Average Sales Prices of Agricultural Products (Sep); Trade by Commodity, Import and Export Indexes (Aug), HPI (Q3)
  • more updates...

Economy in Brief

U.S. Light Vehicle Sales Fall to Lowest Since April; Trucks Share is Trending Higher
by Tom Moeller  March 3, 2015

Consumer's continue to shy away from auto dealerships. Sales of light vehicles declined 2.6% during February to 16.23 million (AR) from 16.66 million in January. It was the third straight month of decline. Sales have moved erratically sideways since last summer.

Light truck sales continued to benefit, however, from the decline in gasoline prices. Trucks share of total vehicle sales rose to 55.5% last month, the highest level since July 2005. For last month alone, light truck sales fell 1.2%, but they remained 12.0% higher versus last year. Domestic light truck sales declined 1.9% to 7.92 million (+12.7% y/y). To the upside last month were imported truck sales which gained 4.4% to 1.09 million (7.2% y/y).

This benefit come at the expense of auto sales. They declined a greater 4.2% from January to 7.23 million (-1.9% y/y). Domestic auto sales declined 4.8% last month to 5.21 million (+0.1% y/y) while imported car sales fell 2.6% to 2.02 million (-6.6% y/y).

Imports share of the market for light vehicles improved slightly m/m to 19.1%, but remained down versus a high of 30.7% in February 2009. Imports share of the passenger car market was little-changed at 27.9% but down from a high of 38.0%. Imports share of the light truck market nudged up to 12.1%, but remained down from a high of 23.8%.

U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.

Eager to Expand, but Money's Tight from the Federal Reserve Bank of Cleveland can be found here.

Light Vehicle Sales (SAAR, Mil. Units) Feb Jan Dec Y/Y % 2014 2013 2012
Total 16.23 16.66 16.92 5.4 16.49 15.58 14.48
 Autos 7.23 7.54 8.16 -1.9 7.91 7.78 7.42
  Domestic 5.21 5.47 5.88 0.1 5.68 5.48 5.10
  Imported 2.02 2.07 2.27 -6.6 2.23 2.30 2.32
 Light Trucks 9.01 9.12 8.76 12.0 8.58 7.81 7.06
  Domestic 7.92 8.07 7.69 12.7 7.50 6.73 6.09
  Imported 1.09 1.04 1.08 7.2 1.08 1.08 0.97
close
large image