Recent Updates
- US: Consumer Sentiment (Jan-prelim), Mfg & Trade Inventories & Sales (Nov), IP & Capacity Utilization, Adv Retail Sales, Producer Prices (Dec)
- US: Industrial Production Detail (Dec)
- US: Producer Price Indexes by Commodity Detail (Dec)
- more updates...
Economy in Brief
Empire State Manufacturing Index Declines in January
The Empire State Manufacturing Index of General Business Conditions decreased to 3.5 in January...
U.S. Industrial Production Continues Recovery
Industrial production advanced 1.6% in December...
U.S. PPI Rose 0.3% in December
The Producer Price Index for final demand rose 0.3% (0.8% y/y) in December...
U.S. Business Inventories Accumulate during November as Sales Weaken
Total business inventories increased 0.5% during November (-3.2% y/y)...
The EMU Trade Surplus Stabilizes
Both exports and imports have been regaining momentum...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Gerald D. Cohen March 1, 2019
Sales of light vehicles decreased 0.8% (-2.6% year-on-year) in February to 16.57 million units at a seasonally adjusted annual rate (SAAR). This is the weakest vehicle sales since February 2015.
An 8.1% drop in auto sales (-11.6% y/y) to a 5.02 million unit pace drove the decline. In January sales increased 2.1%. Purchases of domestically-produced cars fell 9.0% (-11.0% y/y) to 3.65 million units. Sales of imported cars were down 5.5% (-13.0% y/y) to 1.37 million.
Light-truck sales grew 2.8% (1.9% y/y) last month to an 11.55 million unit rate, reversing some of January's 7.9% drop. Purchases of domestically-made light-trucks gained 2.1% (0.3% y/y) to 9.15 million units. Sales of imported light trucks jumped 4.8% (8.3% y/y) to 2.39 million.
Trucks' share of the U.S. vehicle market rebounded to a record high 69.7% (the Autodata series goes back to 1990; the Bureau of Economic Analysis data, which goes back to 1976, hit a record 70.5%).
Imports' share of the U.S. vehicle market rose last month to 22.7%, with the auto share up to 27.3% and the light truck market increasing to 20.7%, a nine-and-a-half year high.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
Light Weight Vehicle Sales (SAAR, Million Units) | Feb | Jan | Dec | Feb Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Total | 16.57 | 16.70 | 17.55 | -2.6 | 17.21 | 17.23 | 17.55 |
Autos | 5.02 | 5.46 | 5.35 | -11.6 | 5.48 | 6.33 | 7.10 |
Domestic | 3.65 | 4.01 | 3.99 | -11.0 | 3.99 | 4.58 | 5.20 |
Imported | 1.37 | 1.45 | 1.36 | -13.0 | 1.49 | 1.75 | 1.90 |
Light Trucks | 11.55 | 11.24 | 12.21 | 1.9 | 11.74 | 10.90 | 10.44 |
Domestic | 9.15 | 8.96 | 9.76 | 0.3 | 9.42 | 9.00 | 8.75 |
Imported | 2.39 | 2.28 | 2.45 | 8.3 | 2.32 | 1.90 | 1.69 |