Global| Apr 03 2018U.S. Light Vehicle Sales Rebound
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles increased 2.4% during March (3.9% y/y) to 17.48 million units (SAAR), following two months of decline, according to the Autodata Corporation. Despite the rebound, last month's sales remained below an [...]
Total sales of light vehicles increased 2.4% during March (3.9% y/y) to 17.48 million units (SAAR), following two months of decline, according to the Autodata Corporation. Despite the rebound, last month's sales remained below an 18.57 million September high.
Leading last month's rebound was a 4.5% rise (13.6% y/y) in light truck sales to 11.87 million units. Sales of domestically made light trucks jumped 6.2% (9.8% y/y) to 9.64 million units, the highest level in six months. Working lower by 2.0% were imported light truck sales to 2.23 million units. Nevertheless, sales were up by one-third y/y.
Trucks' share of the U.S. vehicle market continued higher with a rise to 67.9% in March, up from 63.2% during all of last year.
Auto sales continued to weaken, last month by 1.9% (-12.0% y/y) to 5.62 million units, the lowest level since April 2010. Domestic passenger car sales eased 0.7% (-11.2% y/y) to 4.10 million units. Sales of imported passenger cars dropped 4.8% (-14.0% y/y) to 1.51 million units.
Imports' share of the U.S. vehicle market eased to 21.4% last month, its lowest level since November. Imports' share of the passenger car market declined to 26.9% from 27.8%. Imports share of the light truck market fell to 18.8% following a surge to 20.0%.
U.S. vehicle sales figures can be found in Haver's USECON database.
The Policy Perils of Low Interest Rates from the Federal Reserve Bank of Philadelphia is available here.
| Light Weight Vehicle Sales (SAAR, Million Units) | Mar | Feb | Jan | Mar Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total | 17.48 | 17.08 | 17.16 | 3.9 | 17.27 | 17.55 | 17.48 |
| Autos | 5.62 | 5.72 | 5.77 | -12.0 | 6.35 | 7.10 | 7.73 |
| Domestic | 4.10 | 4.13 | 4.11 | -11.2 | 4.59 | 5.20 | 5.63 |
| Imported | 1.51 | 1.59 | 1.66 | -14.0 | 1.76 | 1.90 | 2.10 |
| Light Trucks | 11.87 | 11.35 | 11.40 | 13.6 | 10.92 | 10.44 | 9.74 |
| Domestic | 9.64 | 9.08 | 9.22 | 9.8 | 9.02 | 8.75 | 8.37 |
| Imported | 2.23 | 2.27 | 2.17 | 33.5 | 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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