Global| Aug 01 2019U.S. Light Vehicle Sales Fall Again
by:Tom Moeller
|in:Economy in Brief
Summary
The Autodata Corporation reported that sales of light vehicles during July declined 2.0% (-0.7% y/y) to 16.89 million units (SAAR). The decline added to a 1.3% June shortfall and left sales at the lowest level since April. Earlier [...]
The Autodata Corporation reported that sales of light vehicles during July declined 2.0% (-0.7% y/y) to 16.89 million units (SAAR). The decline added to a 1.3% June shortfall and left sales at the lowest level since April. Earlier sales data were revised slightly.
Sales of light truck sales eased 0.8% last month (+4.1% y/y) to 12.05 million units. Purchases of domestically-made light trucks slipped 1.6% (+5.0% y/y) to 9.68 million units, while sales of imported light trucks improved 0.9% (0.4% y/y) to 2.36 million units. Imported truck sales have roughly doubled in the past four years.
Auto sales dropped 4.7% (-11.0% y/y) to 4.84 million. This compares to a peak level of 7.89 million unit sales during all of 2014. Purchases of domestically-produced cars fell 4.5% (-16.4% y/y) to 3.37 million units. Sales of imported cars declined 5.8% (+4.3% y/y) to 1.47 million units.
Trucks' share of the U.S. light vehicle market increased to a record 71.3%, up from a low of 48.8% during all of 2012.
Imports' share of the U.S. vehicle market rose slightly to 22.7% and has been trending upward since 2015. Imports' share of the passenger car market remained high at 30.4%, up roughly five percentage points since the end of last year. Imports share of the light truck market eased to 19.6%, but remained up from the 12.1% low in April 2014.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Jul | Jun | May | Jul Y/Y % | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|
| Total | 16.89 | 17.23 | 17.45 | -0.7 | 17.27 | 17.23 | 17.55 |
| Autos | 4.84 | 5.08 | 5.03 | -11.0 | 5.49 | 6.32 | 7.09 |
| Domestic | 3.37 | 3.53 | 3.54 | -16.4 | 4.00 | 4.58 | 5.20 |
| Imported | 1.47 | 1.56 | 1.48 | 4.3 | 1.49 | 1.74 | 1.89 |
| Light Trucks | 12.05 | 12.15 | 12.43 | 4.1 | 11.79 | 10.90 | 10.46 |
| Domestic | 9.68 | 9.84 | 10.01 | 5.0 | 9.44 | 9.00 | 8.76 |
| Imported | 2.36 | 2.34 | 2.42 | 0.4 | 2.35 | 1.91 | 1.70 |
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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