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Economy in Brief
U.S. Productivity Weakness Revised Little; Unit Labor Costs Still Firm
Productivity growth in the nonfarm business sector last quarter was revised to -0.2% at an annual rate (+1.5%) y/y...
U.S. Gasoline and Nat Gas Prices Fall While Crude Oil Prices Were Mixed
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German Trade Data Tell a Tale of Two Germanys
Germany's October trade report is better than expected...
U.S. Nonfarm Payroll Growth Rebounds; Wages Firm & Jobless Rate Eases
The labor market firmed during November...
by Tom Moeller June 1, 2018
Total sales of light vehicles declined 1.5% during May (+0.7% y/y) to 16.91 million units (SAAR), following a 1.8% April decline to 17.17 million units, according to the Autodata Corporation. The decline left sales 8.9% below the 18.57 million unit high reached last September. May sales declined 5.3% since December, following a 1.7% twelve-month shortfall during 2017.
Sales of light trucks declined 2.2% (+8.7% y/y) to 11.48 million units. Domestic light truck sales eased 2.1% (+5.1% y/y) to 9.09 million units. Sales of imported light trucks fell 2.5% (+25.4% y/y) to 2.39 million units.
Passenger car sales were fairly steady m/m at 5.44 million units. Sales of domestically made autos eased 0.1% (-13.5% y/y) to 3.90 million units, the lowest level since November 2010. Sales of imported passenger cars improved 0.7% (-11.1% y/y) to 1.54 million units.
Trucks' share of the U.S. vehicle market slipped to 67.9% in May, but remained up versus 63.2% during all of last year and 48.8% during all of 2008.
Imports' share of the U.S. vehicle market was steady at 23.2% last month, up from 19.9% in 2015. Imports' share of the passenger car market increased to 28.3% from 27.7% last year. Imports share of the light truck market held steady at 20.8% versus a 12.7% low during 2014.
U.S. vehicle sales figures can be found in Haver's USECON database.
Light Weight Vehicle Sales (SAAR, Million Units) | May | Apr | Mar | May Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Total | 16.91 | 17.17 | 17.48 | 0.7 | 17.27 | 17.55 | 17.48 |
Autos | 5.44 | 5.43 | 5.62 | -12.8 | 6.35 | 7.10 | 7.73 |
Domestic | 3.90 | 3.91 | 4.10 | -13.5 | 4.59 | 5.20 | 5.63 |
Imported | 1.54 | 1.53 | 1.51 | -11.1 | 1.76 | 1.90 | 2.10 |
Light Trucks | 11.48 | 11.73 | 11.87 | 8.7 | 10.92 | 10.44 | 9.74 |
Domestic | 9.09 | 9.28 | 9.64 | 5.1 | 9.02 | 8.75 | 8.37 |
Imported | 2.39 | 2.45 | 2.23 | 25.4 | 1.90 | 1.69 | 1.38 |