Global| Jun 02 2021U.S. Light Vehicle Sales Fall Back During May
by:Tom Moeller
|in:Economy in Brief
Summary
• Car & light truck sales decline. • Imports' share of market continues to strengthen. The Autodata Corporation reported that light vehicle sales during May declined 7.8% (+41.5% y/y) to 17.09 million units (SAAR) following two months [...]
• Car & light truck sales decline.
• Imports' share of market continues to strengthen.
The Autodata Corporation reported that light vehicle sales during May declined 7.8% (+41.5% y/y) to 17.09 million units (SAAR) following two months of increase to 18.54 million units, the highest level since July 2005.
Sales of light trucks declined 9.1% (+39.2% y/y) in May to 13.03 million units from the record 14.33 million in April. Purchases of domestically-made light trucks fell 10.0% (+39.2% y/y) to 9.87 million units. Sales of imported light trucks were off 6.0% (+39.2% y/y) from the record 3.36 million in April.
Trucks' share of the light vehicle market fell to 76.2% last month but remained near the record.
Passenger car sales fell 3.3% (+49.6% y/y) in May to 4.07 million units. Purchases of domestically-produced cars weakened 6.2% (+40.2% y/y) to 2.58 million units. Bucking the downward movement, sales of imported autos improved 2.1% (69.3% y/y) to 1.49 million.
Imports' share of the U.S. vehicle market increased last month to 27.2%, up from this year's low of 23.9% in January. Imports' share of the passenger car market rose to 36.6% in May. Imports' share of the light truck market improved to 24.3%.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
The Fed's latest Beige Book covering regional economic conditions is available here.
| Light Weight Vehicle Sales (SAAR, Million Units) | May | Apr | Mar | May Y/Y % | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Total | 17.09 | 18.54 | 18.08 | 41.5 | 14.55 | 17.06 | 17.32 |
| Autos | 4.07 | 4.21 | 4.03 | 49.6 | 3.54 | 4.82 | 5.40 |
| Domestic | 2.58 | 2.75 | 2.67 | 40.2 | 2.53 | 3.53 | 4.05 |
| Imported | 1.49 | 1.46 | 1.36 | 69.3 | 1.01 | 1.29 | 1.36 |
| Light Trucks | 13.03 | 14.33 | 14.06 | 39.2 | 11.01 | 12.24 | 11.92 |
| Domestic | 9.87 | 10.97 | 10.97 | 39.2 | 8.62 | 9.70 | 9.44 |
| Imported | 3.16 | 3.36 | 3.09 | 39.2 | 2.39 | 2.54 | 2.48 |
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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