Recent Updates
- Global Supply Chain Pressure Index (Mar, Apr)
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Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
"Core" GDP Suggests Economy Gained Momentum in Q1:2022
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 |