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Economy in Brief
UK Consumer Sentiment Hits Lowest Reading since 1996
(when the GFK survey began; also lowest reading 'ever')
Of these 13 readings eight of them declined on the month in May three of them improved and two of them were unchanged...
U.S. Existing Home Sales Continue to Fall in April as Houses Become Less Affordable
The combination of soaring home prices across the nation and rising interest rates is making homes less affordable...
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
CBI Gauge in the UK Continues to Be Upbeat
The global economy has a lot of challenges...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and 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?
by Tom Moeller April 1, 2022
• Both auto & light truck sales tumble for second straight month.
• Sales have been under pressure as parts shortages limit dealer inventory.
• Imports' share reverses most of three-month increase.
The Autodata Corporation reported that light vehicle sales during March fell 5.4% (-24.7% y/y) to 13.40 million units (SAAR) after weakening 6.8% in February. Sales were 27.6% below the April 2021 peak of 18.50 million units.
Auto sales declined 8.4% (-31.1% y/y) last month to 2.73 million units. Purchases of domestically-made autos weakened 3.5% in March (-27.5% y/y) to 1.92 million units. Sales of imported autos weakened 18.2% (-38.6% y/y) to 0.81 million units.
Sales of light trucks weakened 4.6% (-22.8% y/y) in March to 10.67 million units. Purchases of domestically-produced light truck declined 1.7% last month (-21.7% y/y) to 8.46 million units. Sales of imported light trucks fell 14.0% last month (-27.1% y/y) to 2.21 million units.
Trucks' share of the light vehicle market slipped to 79.6% and remained below an 80.4% share in October of last year.
Imports' total share of the U.S. vehicle market fell in March to 22.5% and reversed gains in the prior two months. Imports' share of the passenger car market fell to 29.7% last month. Imports' share of the light truck market fell to 20.7%.
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) | Mar | Feb | Jan | Mar Y/Y % | 2021 | 2020 | 2019 |
---|---|---|---|---|---|---|---|
Total | 13.40 | 14.16 | 15.19 | -24.7 | 15.10 | 14.58 | 17.06 |
Autos | 2.73 | 2.98 | 3.12 | -31.1 | 3.40 | 3.52 | 4.82 |
Domestic | 1.92 | 1.99 | 2.08 | -27.5 | 2.24 | 2.51 | 3.53 |
Imported | 0.81 | 0.99 | 1.05 | -38.6 | 1.16 | 1.01 | 1.29 |
Light Trucks | 10.67 | 11.18 | 12.07 | -22.8 | 11.70 | 11.07 | 12.24 |
Domestic | 8.46 | 8.61 | 9.39 | -21.7 | 9.03 | 8.65 | 9.70 |
Imported | 2.21 | 2.57 | 2.67 | -27.1 | 2.67 | 2.41 | 2.54 |