Global| Mar 01 2018U.S. Light Vehicle Sales Ease Further
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles during February slipped 0.5% (-2.2% y/y) to 17.08 million units (SAAR), following a 3.9% January fall to 17.16 million units, according to the Autodata Corporation. Last month's sales compared to an 18.57 [...]
Total sales of light vehicles during February slipped 0.5% (-2.2% y/y) to 17.08 million units (SAAR), following a 3.9% January fall to 17.16 million units, according to the Autodata Corporation. Last month's sales compared to an 18.57 million September high and were at the lowest level in six months.
Light truck sales eased 0.4% (+3.9% y/y) to 11.35 million units after a 3.1% January drop. Sales of domestically made light trucks fell 1.6% (-0.9% y/y) to 9.08 million units after a 4.0% January decline. Imported light truck sales rose 4.6% (28.7% y/y) to a record high 2.27 million units.
Trucks' share of the U.S. vehicle market rose slightly to a record 66.5% in February, up from 63.2% during all of last year and from 47.3% in 2009.
Auto sales fell 0.7% (-12.3% y/y) to 5.72 million units, the fifth consecutive monthly decline. Domestic passenger car sales improved 0.6% (-11.6% y/y) to 4.13 million units after declining for four consecutive months. Sales of imported passenger cars dropped 4.0% (-14.1% y/y) to 1.59 million units, the lowest level since February 1999.
Imports' share of the U.S. vehicle market rose to 22.6% last month from a 19.9% low during all of 2015. Imports' share of the passenger car market declined to 27.8% from a twelve-month high of 28.7% in January. Imports share of the light truck market surged to 20.0%, the highest level since March 2009.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Feb | Jan | Dec | Feb Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total | 17.08 | 17.16 | 17.85 | -2.2 | 17.27 | 17.55 | 17.48 |
| Autos | 5.72 | 5.77 | 6.09 | -12.3 | 6.35 | 7.10 | 7.73 |
| Domestic | 4.13 | 4.11 | 4.40 | -11.6 | 4.59 | 5.20 | 5.63 |
| Imported | 1.59 | 1.66 | 1.69 | -14.1 | 1.76 | 1.90 | 2.10 |
| Light Trucks | 11.35 | 11.40 | 11.76 | 3.9 | 10.92 | 10.44 | 9.74 |
| Domestic | 9.08 | 9.22 | 9.61 | -0.9 | 9.02 | 8.75 | 8.37 |
| Imported | 2.27 | 2.17 | 2.16 | 28.7 | 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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