Global| Sep 05 2018U.S. Light Vehicle Sales Ease
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles of 16.72 million units (SAAR) in August (0.8% y/y) compared to 16.77 million in July according to the Autodata Corporation. The m/m slip left sales 8.0% below the 18.16 million unit high reached last [...]
Total sales of light vehicles of 16.72 million units (SAAR) in August (0.8% y/y) compared to 16.77 million in July according to the Autodata Corporation. The m/m slip left sales 8.0% below the 18.16 million unit high reached last September.
Passenger car sales fell 3.4% last month (-16.8% y/y) to 5.14 million units. Sales of domestically-made autos declined 4.0% (-15.5% y/y) to 3.77 million units. Sales of imported passenger cars fell 1.6% (-20.3% y/y) to 1.37 million units.
Sales of light trucks improved 1.1% (11.3% y/y) during August to 11.58 million units, down only slightly from the record high of 11.78 million reached in June. Domestic light truck sales improved 2.6% (9.3% y/y) to 9.37 million units. Sales of imported light trucks declined 4.5% (+20.8% y/y) to 2.21 million units.
Trucks' share of the U.S. vehicle market increased to a record 69.3% in August, up from 63.3% during all of last year and 48.8% during all of 2008.
Imports' share of the U.S. vehicle market eased to 21.4% last month. Imports' share of the passenger car market improved slightly to 26.6%. Imports share of the light truck market declined to 19.1%.
U.S. vehicle sales figures can be found in Haver's USECON database.
How to Extend the U.S. Expansion: A Suggestion from St. Louis Fed President & CEO James Bullard can be found here.
| Aug | Jul | Jun | Aug Y/Y % | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|
| Total | 16.72 | 16.77 | 17.24 | 0.8 | 17.23 | 17.55 | 17.48 |
| Autos | 5.14 | 5.32 | 5.45 | -16.8 | 6.33 | 7.10 | 7.73 |
| Domestic | 3.77 | 3.93 | 3.95 | -15.5 | 4.58 | 5.20 | 5.63 |
| Imported | 1.37 | 1.39 | 1.51 | -20.3 | 1.75 | 1.90 | 2.10 |
| Light Trucks | 11.58 | 11.45 | 11.78 | 11.3 | 10.90 | 10.45 | 9.74 |
| Domestic | 9.37 | 9.14 | 9.47 | 9.3 | 9.00 | 8.75 | 8.37 |
| Imported | 2.21 | 2.32 | 2.31 | 20.8 | 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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