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Economy in Brief

U.S. Light Vehicle Sales Rebound
by Tom Moeller  August 3, 2015

Total sales of light vehicles increased 3.3% during July to 17.55 million units (SAAR, 6.2% y/y), recovering most of June's decline from the cycle high.

Light truck purchases improved 3.9% to 9.75 million units (14.0% y/y), the highest level since July 2005. Trucks share of the total vehicle market improved to 55.5%. Domestic light truck sales increased 4.5% (12.8% y/y) to 8.39 million units. Imported truck sales improved 0.3% to 1.36 million units (21.7% y/y) following five straight months of material increase. Sales were at the highest level since March 2008 and accounted for 13.9% of total truck sales.

Auto sales gained 2.4% last month to 7.80 million units (-2.1 y/y) after June's 5.1% decline. Domestic auto sales increased 5.3% to 5.81 million (0.7% y/y) and recovered virtually all the June decline. Imported car sales eased 5.2% to 2.00 million (-9.6% y/y), adding to a 3.4% June decline.

Imports share of the market for light vehicles eased to 19.1%, still down versus a high of 30.7% in February 2009. Imports share of the passenger car market declined 25.6%. Imports share of the light truck market edged down to 13.9%.

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

Light Vehicle Sales (SAAR, Mil. Units) Jul Jun May Y/Y % 2014 2013 2012
Total 17.55 17.00 17.70 6.2 16.49 15.58 14.48
 Autos 7.80 7.62 8.03 -2.1 7.89 7.78 7.42
  Domestic 5.81 5.51 5.85 0.7 5.65 5.48 5.10
  Imported 2.00 2.10 2.18 -9.6 2.24 2.30 2.32
 Light Trucks 9.75 9.38 9.67 14.0 8.60 7.81 7.06
  Domestic 8.39 8.03 8.36 12.8 7.51 6.73 6.09
  Imported 1.36 1.35 1.32 21.7 1.09 1.08 0.97
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