Global| Mar 03 2020U.S. Light Vehicle Sales Hold Steady in February
by:Tom Moeller
|in:Economy in Brief
Summary
The Autodata Corporation reported that sales of light vehicles during February eased 0.2% (+2.0% y/y) to 17.04 million (SAAR) from 17.07 million in January, revised from 17.05 million. During the last three months, sales averaged [...]
The Autodata Corporation reported that sales of light vehicles during February eased 0.2% (+2.0% y/y) to 17.04 million (SAAR) from 17.07 million in January, revised from 17.05 million. During the last three months, sales averaged 17.00 million units. Sales have been easing since the 2016 sales peak of 17.55 million units.
Sales of light trucks were off 0.1% (+6.6% y/y) at 12.56 million units. Purchases of domestically-made light trucks fell 0.8% (+7.2% y/y) to 9.92 million units following January's 4.4% rise. Sales of imported light trucks improved 2.7% (4.3% y/y) to 2.64 million units after January's 0.4% improvement.
Trucks' share of the U.S. light vehicle market reached a record 73.7%, up from a low of 48.8% during all of 2012.
Auto sales weakened 0.2% (-8.9% y/y) to 4.48 million units. That remained below a peak level of 7.71 million unit sales during all of 2014. Purchases of domestically-produced cars fell 3.3% (-12.7% y/y) to 3.22 million units and added to January's decline. Sales of imported cars strengthened 7.7% (2.4% y/y) to 1.26 million units after rising 0.9% in January.
Imports' share of the U.S. vehicle market rose last month to 22.9% and has been moving sideways for two years. Imports' share of the passenger car market jumped to 28.1%, its highest level in four months. Imports share of the light truck market edged higher to 21.0% and remained up from the 12.0% low in January 2015.
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) | Feb | Jan | Dec | Feb Y/Y % | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Total | 17.04 | 17.07 | 16.87 | 2.0 | 16.99 | 17.27 | 17.23 |
| Autos | 4.48 | 4.49 | 4.73 | -8.9 | 4.80 | 5.36 | 6.16 |
| Domestic | 3.22 | 3.33 | 3.57 | -12.7 | 3.52 | 4.00 | 4.58 |
| Imported | 1.26 | 1.17 | 1.16 | 2.4 | 1.28 | 1.36 | 1.59 |
| Light Trucks | 12.56 | 12.57 | 12.14 | 6.6 | 12.18 | 11.92 | 11.07 |
| Domestic | 9.92 | 10.00 | 9.58 | 7.2 | 9.65 | 9.44 | 9.00 |
| Imported | 2.64 | 2.57 | 2.56 | 4.3 | 2.53 | 2.48 | 2.07 |
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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