Global| Feb 01 2019U.S. Light Vehicle Sales Decline
by:Tom Moeller
|in:Economy in Brief
Summary
Sales of light vehicles fell 4.8% (-2.8% y/y) during January to 16.70 million units (SAAR), the lowest level since August 2017. A 7.9% decline (-1.9% y/y) in light truck sales to 11.24 million units led the decline after a 0.7% gain [...]
Sales of light vehicles fell 4.8% (-2.8% y/y) during January to 16.70 million units (SAAR), the lowest level since August 2017.
A 7.9% decline (-1.9% y/y) in light truck sales to 11.24 million units led the decline after a 0.7% gain in the prior month. Sales of domestically-produced light trucks fell 8.2% (-3.4% y/y) to 8.96 million units following a 0.5% rise in December. Sales of imported light trucks declined 6.6% (+4.7% y/y) to 2.28 million units after a 1.2% rise.
Trucks’ share of the U.S. vehicle market declined to 67.3%, the lowest level since February of last year.
Passenger car sales improved 2.1% (-4.8% y/y) last month to 5.46 million units following declines during the prior two months. Sales of domestically-made cars improved 0.5% (-2.6% y/y) to 4.01 million units. Meanwhile, sales of imported passenger cars jumped 6.6% (-10.4% y/y) to 1.45 million units after three months of sharp decline.
Imports’ share of the U.S. vehicle market rose last month to 22.3%, the highest level in four months. Imports share of the passenger car market increased to 26.6%, but remained below the 28.6% high last April. Imports share of the light truck market improved to 20.3%.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
|
U.S. Light Weight Vehicle Sales (SAAR, Million Units) |
Jan | Dec | Nov | Jan Y/Y % | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|
| Total | 16.70 | 17.55 | 17.49 | -2.8 | 17.21 | 17.23 | 17.55 |
| Autos | 5.46 | 5.35 | 5.37 | -4.8 | 5.48 | 6.33 | 7.10 |
| Domestic | 4.01 | 3.99 | 3.95 | -2.6 | 3.99 | 4.58 | 5.20 |
| Imported | 1.45 | 1.36 | 1.43 | -10.4 | 1.49 | 1.75 | 1.90 |
| Light Trucks | 11.24 | 12.21 | 12.12 | -1.9 | 11.74 | 10.90 | 10.44 |
| Domestic | 8.96 | 9.76 | 9.71 | -3.4 | 9.42 | 9.00 | 8.75 |
| Imported | 2.28 | 2.44 | 2.41 | 4.7 | 2.32 | 1.90 | 1.69 |
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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