Global| May 03 2016U.S. Light Vehicle Sales Recover as Truck Purchases Surge
by:Tom Moeller
|in:Economy in Brief
Summary
U.S. consumers' attraction to light trucks bolstered overall vehicle sales last month. Total sales of light vehicles during April increased 5.1% (4.0% y/y) from March to 17.42 million units (SAAR), and recovered most of the prior [...]
U.S. consumers' attraction to light trucks bolstered overall vehicle sales last month. Total sales of light vehicles during April increased 5.1% (4.0% y/y) from March to 17.42 million units (SAAR), and recovered most of the prior month's decline.
Sales of light trucks jumped 7.3% (12.5% y/y) to 10.36 million units, a five month high. Sales of imported light trucks surged 12.4% (29.4% y/y) to 1.63 million units, and were just shy of the record high reached in November. Domestic light truck sales increased 6.3% (9.8% y/y) to 8.73 million units. Truck sales moved higher to 59.5% of the light vehicle market.
Auto sales improved 2.1% to 7.06 million units (-6.3% y/y), and recovered much of the prior month's decline. The increase was led by an 8.6% rise (-5.6% y/y) in imported car sales 1.95 million. Sales of domestically made cars eased 0.1% (-6.6% y/y) to 5.11 million. These sales were at the lowest level since July 2011.
Imports share of the light vehicle market rose to 20.5%, compared to 19.8% during all of last year. Imports share of the passenger car market of 27.6% compared to 27.1% during all of last year. Imports share of the light truck market of 15.7% compared 14.1% during all of 2015.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Apr | Mar | Feb | Apr Y/Y % | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Total | 17.42 | 16.57 | 17.54 | 4.0 | 17.42 | 16.52 | 15.59 |
| Autos | 7.06 | 6.91 | 7.39 | -6.3 | 7.72 | 7.92 | 7.77 |
| Domestic | 5.11 | 5.12 | 5.51 | -6.6 | 5.63 | 5.68 | 5.48 |
| Imported | 1.95 | 1.79 | 1.88 | -5.6 | 2.09 | 2.24 | 2.30 |
| Light Trucks | 10.36 | 9.66 | 10.16 | 12.5 | 9.69 | 8.60 | 7.82 |
| Domestic | 8.73 | 8.21 | 8.63 | 9.8 | 8.33 | 7.51 | 6.74 |
| Imported | 1.63 | 1.45 | 1.53 | 29.4 | 1.37 | 1.09 | 1.08 |
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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