Global| Nov 03 2014U.S. Light Vehicle Sales Remain Firm
by:Tom Moeller
|in:Economy in Brief
Summary
According to the Autodata Corporation, October sales of light vehicles held fairly steady at 16.46 million units (SAAR) versus 16.43 million in September. Sales were up 7.0% y/y. Auto sales in October improved 2.9% versus September [...]
According to the Autodata Corporation, October sales of light vehicles held fairly steady at 16.46 million units (SAAR) versus 16.43 million in September. Sales were up 7.0% y/y.
Auto sales in October improved 2.9% versus September (3.8% y/y) to 7.97 million units. Sales of domestically-produced autos gained 4.5% (8.5% y/y) to 5.88 million while sales of imports dropped 1.1% (-7.4% y/y) to 2.10 million.
Light truck sales fell 2.3% (+10.2% y/y) to 8.49 million units. Sales of domestically-produced light trucks were off 1.7% (+12.6% y/y) to 7.41 million and imported light truck sales fell 6.2% (-3.4% y/y) to 1.08 million.
The import share of light vehicle sales declined to 19.3%, nearly its lowest reading since January 2006. The import share of auto sales fell to 26.3%, down from 34.8% during all of 2010, while the import share of light trucks was roughly steady at 12.7%.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Oct | Sep | Aug | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Total | 16.46 | 16.43 | 17.53 | 7.0 | 15.56 | 14.49 | 12.78 |
| Autos | 7.97 | 7.74 | 8.44 | 3.8 | 7.77 | 7.42 | 6.23 |
| Domestic | 5.88 | 5.63 | 6.19 | 8.5 | 5.47 | 5.10 | 4.21 |
| Imported | 2.10 | 2.12 | 2.24 | -7.4 | 2.29 | 2.32 | 2.02 |
| Light Trucks | 8.49 | 8.69 | 9.10 | 10.2 | 7.79 | 7.08 | 6.55 |
| Domestic | 7.41 | 7.54 | 7.89 | 12.6 | 6.71 | 6.10 | 5.55 |
| Imported | 1.08 | 1.15 | 1.21 | -3.4 | 1.08 | 0.97 | 1.00 |
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.
