Global| May 01 2015U.S. Light Vehicle Sales Ease
by:Tom Moeller
|in:Economy in Brief
Summary
Sales of light vehicles declined 4.0% (+2.5% y/y) during April to 16.45 million units (AR) versus 17.15 million in March. The latest level remained in the range staked out since the middle of last year. Auto sales decreased 4.4% last [...]
Sales of light vehicles declined 4.0% (+2.5% y/y) during April to 16.45 million units (AR) versus 17.15 million in March. The latest level remained in the range staked out since the middle of last year.
Auto sales decreased 4.4% last month to 7.36 million and were down 2.7% y/y. Imported car sales declined 8.8% to 2.06 million (-10.0% y/y) and were at the low end of the range in place since 2012. Domestic auto sales fell a lesser 2.6% to 5.31 million (+0.5% y/y), remaining near the low end of the range of the last year.
Light truck sales declined 3.8% (+7.1% y/y) to 9.09 million units. Domestic light truck sales decreased 4.6% to 7.86 million (+5.2% y/y). Imported truck sales, however, increased 2.1% to 1.23 million (+21.2% y/y), reaching the highest level since August 2009 when the "cash-for-clunkers" program fueled sales.
Imports share of the market for light vehicles slipped m/m to 20.0%, down versus a high of 30.7% in February 2009. Imports share of the passenger car market fell to 27.9% after jumping to 29.3% during March. Imports share of the light truck market rose sharply to 13.5%, the highest level since November 2013.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
Expectations of a Pickup Remain Despite a Slow Start to 2015 from the Federal Reserve Bank of Dallas is available here.
| Light Vehicle Sales (SAAR, Mil. Units) | Apr | Mar | Feb | Y/Y % | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Total | 16.45 | 17.15 | 16.23 | 2.5 | 16.49 | 15.58 | 14.48 |
| Autos | 7.36 | 7.70 | 7.23 | -2.7 | 7.91 | 7.78 | 7.42 |
| Domestic | 5.31 | 5.45 | 5.21 | 0.5 | 5.68 | 5.48 | 5.10 |
| Imported | 2.06 | 2.26 | 2.02 | -10.0 | 2.23 | 2.30 | 2.32 |
| Light Trucks | 9.09 | 9.44 | 9.01 | 7.1 | 8.58 | 7.81 | 7.06 |
| Domestic | 7.86 | 8.24 | 7.92 | 5.2 | 7.50 | 6.73 | 6.09 |
| Imported | 1.23 | 1.20 | 1.09 | 21.2 | 1.08 | 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.
