Global| Sep 01 2015U.S. Light Vehicle Sales Crest 10-Year High, Led by Imported Light Trucks
by:Tom Moeller
|in:Economy in Brief
Summary
The light vehicle market remains on fire. Total sales of light vehicles increased 1.5% during August to 17.81 million units (SAAR, 2.8% y/y). It was the highest level of sales since July 2005. Light truck purchases led last month's [...]
The light vehicle market remains on fire. Total sales of light vehicles increased 1.5% during August to 17.81 million units (SAAR, 2.8% y/y). It was the highest level of sales since July 2005.
Light truck purchases led last month's sales strength and improved 3.4% to 10.08 million units (11.6% y/y). Trucks share of the total vehicle market improved to 56.6%, up from an August 2009 low of 42.8%. Imported truck sales surged 13.7% to 1.54 million units, up by more than one quarter y/y, and reached the 2007 high. They accounted for an improved 15.3% of total truck sales. Sales of domestic light trucks increased 1.7% to 8.54 million units (9.0% y/y).
Auto sales eased 0.9% last month to 7.73 million units, down 6.7% y/y, following July's 2.4% rise. Domestic auto sales declined 3.5% to 5.60 million (-7.5% y/y), a level they neared in January 2013. Imported car sales strengthened 6.7% to 2.13 million but remained down 4.6% y/y.
Imports share of the market for light vehicles rebounded m/m to 20.6%, but that still was lower than a high of 30.7% in February 2009. Imports share of the passenger car market increased m/m to 27.5%, but that was below the 34.8% peak during all of 2010. Imports share of the light truck market improved to 15.3%, the highest level since January 2012s.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Aug | Jul | Jun | Aug Y/Y % | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Total | 17.81 | 17.55 | 17.00 | 2.8 | 16.49 | 15.58 | 14.48 |
| Autos | 7.73 | 7.80 | 7.62 | -6.7 | 7.89 | 7.78 | 7.42 |
| Domestic | 5.60 | 5.81 | 5.51 | -7.5 | 5.65 | 5.48 | 5.10 |
| Imported | 2.13 | 2.00 | 2.10 | -4.6 | 2.24 | 2.30 | 2.32 |
| Light Trucks | 10.08 | 9.75 | 9.38 | 11.6 | 8.60 | 7.81 | 7.06 |
| Domestic | 8.54 | 8.39 | 8.03 | 9.0 | 7.51 | 6.73 | 6.09 |
| Imported | 1.54 | 1.36 | 1.35 | 28.2 | 1.09 | 1.08 | 0.97 |
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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