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- 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 Tom Moeller May 1, 2019
The motor vehicle weakened significantly last month. The Autodata Corporation reported that sales of light vehicles during April declined 6.1% (-4.3% y/y) to 16.39 million units (SAAR). It reversed a 5.3% March increase and left sales at the lowest level since October 2014.
Auto sales fell 4.8% (-9.7% y/y) to a 4.94 million unit pace following a 3.4% increase. It continued the downward trend in place since 2014. Purchases of domestically-produced cars were off 7.1% (-10.8% y/y) to 3.53 million units after rising 4.1% in March. Sales of imported cars improved 1.4% (-6.7% y/y) for a second month to 1.41 million units.
Light-truck sales weakened 6.5% (-1.8% y/y) last month to an 11.46 million unit rate and reversed the 6.1% March gain. They remained, however, in the upward trend in place since the recession's end. Purchases of domestically-made light trucks fell 7.4% to 9.10 million units (-2.0% y/y). The decline fully reversed the prior month's increase. Sales of imported light trucks eased 2.9% (-0.7% y/y) to a 2.36 million sales rate after a 1.7% rise and continued to gain share of the truck market.
Trucks' share of the U.S. vehicle market was little changed near the record high at 69.9%. The share rose from 68.3% last year and a low of 47.3% in 2009.
Imports share of the U.S. vehicle market rose last month to 23.0% and has been trending upward since 2015. Imports' share of the passenger car market increased to 28.5%, an 11-month high. Imports share of the light truck market improved to 20.6%, up from a low of 13.8% in 2012.
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) | Apr | Mar | Feb | Apr Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Total | 16.39 | 17.45 | 16.57 | -4.3 | 17.21 | 17.23 | 17.55 |
Autos | 4.94 | 5.19 | 5.02 | -9.7 | 5.48 | 6.33 | 7.10 |
Domestic | 3.53 | 3.80 | 3.65 | -10.8 | 3.99 | 4.58 | 5.20 |
Imported | 1.41 | 1.39 | 1.37 | -6.7 | 1.49 | 1.75 | 1.90 |
Light Trucks | 11.46 | 12.26 | 11.55 | -1.8 | 11.74 | 10.90 | 10.44 |
Domestic | 9.10 | 9.83 | 9.15 | -2.0 | 9.42 | 9.00 | 8.75 |
Imported | 2.36 | 2.43 | 2.39 | -0.7 | 2.32 | 1.90 | 1.69 |