Global| Feb 01 2018U.S. Light Vehicle Sales Continue to Decline
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles during January declined 4.1% (-1.8% y/y) to 17.12 million (SAAR) following a 1.9% December increase to 17.85 million, according to the Autodata Corporation. It compared to an 18.6 million September high [...]
Total sales of light vehicles during January declined 4.1% (-1.8% y/y) to 17.12 million (SAAR) following a 1.9% December increase to 17.85 million, according to the Autodata Corporation. It compared to an 18.6 million September high and was the lowest level since August.
Light truck sales fell 3.5% (+4.5% y/y) to 11.36 million after a 4.9% December rise. Domestically-made light trucks were off 4.4% (+1.2% y/y) to 9.18 million units, reversing a 4.7% December rise. Imported light truck sales rose 0.8% (20.7% y/y) to 2.17 million units, a record high.
Trucks' share of the U.S. vehicle market jumped to a record 66.3% in January and was higher than 63.2% during all of last year.
Auto sales fell 5.3% (-12.1% y/y) to 5.77 million units following three consecutive months of 3.6% decline. Domestic passenger car sales declined 6.5% (-12.1% y/y) to 4.11 million, the lowest level since August 2011. Sales of imported passenger cars eased 2.2% (-12.3% y/y) to 1.66 million units, the lowest level since December 2008.
Imports' share of the U.S. vehicle market rose to 22.4% last month from a 19.9% low during all of 2015. Imports' share of the passenger car market increased to 28.7%, a twelve-month high. Imports share of the light truck market strengthened to 19.1%, up from a 12.7% low during all of 2014.
U.S. vehicle sales figures are published by the Autodata Corporation and can be found in Haver's USECON database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Jan | Dec | Nov | Jan Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total | 17.12 | 17.85 | 17.53 | -1.8 | 17.27 | 17.55 | 17.48 |
| Autos | 5.77 | 6.09 | 6.32 | -12.1 | 6.35 | 7.10 | 7.73 |
| Domestic | 4.11 | 4.40 | 4.61 | -12.1 | 4.59 | 5.20 | 5.63 |
| Imported | 1.66 | 1.69 | 1.71 | -12.3 | 1.76 | 1.90 | 2.10 |
| Light Trucks | 11.36 | 11.76 | 11.21 | 4.5 | 10.92 | 10.44 | 9.74 |
| Domestic | 9.18 | 9.61 | 9.17 | 1.2 | 9.02 | 8.75 | 8.37 |
| Imported | 2.17 | 2.16 | 2.04 | 20.7 | 1.90 | 1.69 | 1.38 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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