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Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller November 1, 2018
Sales of light vehicles increased 0.7% (-2.2% y/y) during October to 17.57 million units (SAAR), the highest level since November 2017. The latest gain followed a 4.3% September jump.
Passenger car sales rose 4.8% (-12.8% y/y) last month to 5.67 million units. The rise brought them to the highest level since February. Sales of domestically made cars rose 6.6% (-11.9% y/y) to 4.17 million units and added to a strong September increase. Sales of imported passenger cars rose 0.7% (-15.2% y/y) to 1.50 million units. That gain followed an 8.9% jump during September.
Light truck sales declined 1.1% in October to 11.90 million units. Sales remained up, nevertheless, by 3.9% during the last 12 months. Sales of domestically-produced light trucks fell 1.3% (+0.6% y/y) to 9.50 million units. Sales had been moving steadily upward toward a record high. Sales of imported light trucks improved 0.4% (19.5% y/y) to a new record of 2.41 million units.
Trucks' share of the U.S. vehicle market declined to 67.7% last month, off modestly from August's 69.0% record. This compared to 63.3% during all of last year and 47.3% at the low during all of 2009.
Imports' share of the U.S. vehicle market was little changed last month at 22.2%, but down from 27.6% during all of 2009. Imports' share of the passenger car market fell to 26.5%. Imports share of the light truck market improved to 20.3% which nearly equaled the cycle high. It's up from the low of 12.7% in 2014.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
Oct | Sep | Aug | Oct Y/Y % | 2017 | 2016 | 2015 | |
---|---|---|---|---|---|---|---|
Total | 17.57 | 17.44 | 16.72 | -2.2 | 17.23 | 17.55 | 17.48 |
Autos | 5.67 | 5.41 | 5.14 | -12.8 | 6.33 | 7.10 | 7.73 |
Domestic | 4.17 | 3.91 | 3.77 | -11.9 | 4.58 | 5.20 | 5.64 |
Imported | 1.50 | 1.49 | 1.37 | -15.2 | 1.75 | 1.90 | 2.10 |
Light Trucks | 11.90 | 12.03 | 11.58 | 3.9 | 10.90 | 10.44 | 9.74 |
Domestic | 9.50 | 9.63 | 9.37 | 0.6 | 9.00 | 8.75 | 8.37 |
Imported | 2.41 | 2.40 | 2.21 | 19.5 | 1.90 | 1.69 | 1.38 |