Global| Apr 01 2016U.S. Light Vehicle Sales Decline Sharply
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles during March fell 5.5% from February, the fourth decline in five months. At 16.57 million units (SAAR), sales were at the lowest level in thirteen months. Auto sales declined 6.4% to 6.91 million units [...]
Total sales of light vehicles during March fell 5.5% from February, the fourth decline in five months. At 16.57 million units (SAAR), sales were at the lowest level in thirteen months.
Auto sales declined 6.4% to 6.91 million units (-10.9% y/y), the lowest level since December 2011. The decline was led by a 7.1% shortfall (-7.7% y/y) in domestic sales to 5.12 million. Sales of imported cars declined 4.3% (-18.9% y/y) to 1.79 million. These sales also were at the lowest level since 2011, and were roughly one-third below the 2012 high.
Sales of light trucks fell 4.9% (+3.0% y/y) to 9.66 million units, a nine month low. Domestic light truck sales declined 4.8% (+0.2% y/y) to 8.21 million. Sales of imported light trucks were off 5.2% (+22.1% y/y) to 1.45 million. Truck sales moved higher to 58.3% of the light vehicle market.
Imports 19.6% share of the light vehicle market in Q1 compared to 19.8% during all of last year. Imports share of the passenger car market of 26.0% compared to 27.1% during all of last year. Imports share of the light truck market of 15.0% compared 14.1% during all of last year.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Mar | Feb | Jan | Mar Y/Y % | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Total | 16.57 | 17.54 | 17.58 | -3.3 | 17.42 | 16.52 | 15.59 |
| Autos | 6.91 | 7.39 | 7.43 | -10.9 | 7.72 | 7.92 | 7.77 |
| Domestic | 5.12 | 5.51 | 5.54 | -7.7 | 5.63 | 5.68 | 5.48 |
| Imported | 1.79 | 1.88 | 1.89 | -18.9 | 2.09 | 2.24 | 2.30 |
| Light Trucks | 9.66 | 10.16 | 10.15 | 3.0 | 9.69 | 8.60 | 7.82 |
| Domestic | 8.21 | 8.63 | 8.62 | 0.2 | 8.33 | 7.51 | 6.74 |
| Imported | 1.45 | 1.53 | 1.54 | 22.1 | 1.37 | 1.09 | 1.08 |
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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