Global| Mar 02 2016U.S. Light Vehicle Sales Remain Strong
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles during February eased 0.2% m/m to 17.54 million units (SAAR) from 17.58 million in January. The sizable 7.0% y/y increase continued to reflect the decline in gasoline prices, strong consumer confidence [...]
Total sales of light vehicles during February eased 0.2% m/m to 17.54 million units (SAAR) from 17.58 million in January. The sizable 7.0% y/y increase continued to reflect the decline in gasoline prices, strong consumer confidence and low unemployment. Nevertheless, sales remained below the cycle peak of 18.24 million reached in October.
Sales of light trucks improved 0.1% (13.0% y/y) to 10.16 million units. Domestic light truck sales gained 0.2% (9.2% y/y) to 8.63 million. Sales of imported light trucks eased 0.6% (+40.5% y/y) to 1.53 million. Trucks sales were a record 57.8% of the light vehicle market, up from 54.8% in February 2015.
Auto purchases eased 0.6% to 7.39 million, down 0.3% y/y. Domestic auto sales fell 0.5% (+3.7% y/y) to 5.51 million. Sales of imported autos were off 1.0% (-10.2% y/y) to 1.88 million.
Imports share of the light vehicle market declined to 19.4% from 20.4% in Q4'15, and from 19.8% during all of last year. Imports share of the passenger car market of 25.4% compared to 26.3% last quarter, and 27.1% during all of last year. Imports share of the light truck market of 15.0% compared to 15.9% in Q4, but that was up from 14.1% during all of last year.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Feb | Jan | Dec | Feb Y/Y % | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Total | 17.54 | 17.58 | 17.34 | 7.0 | 17.42 | 16.52 | 15.59 |
| Autos | 7.39 | 7.43 | 7.40 | -0.3 | 7.72 | 7.92 | 7.77 |
| Domestic | 5.51 | 5.54 | 5.51 | 3.7 | 5.63 | 5.68 | 5.48 |
| Imported | 1.88 | 1.89 | 1.89 | -10.2 | 2.09 | 2.24 | 2.30 |
| Light Trucks | 10.16 | 10.15 | 9.94 | 13.0 | 9.69 | 8.60 | 7.82 |
| Domestic | 8.63 | 8.62 | 8.34 | 9.2 | 8.33 | 7.51 | 6.74 |
| Imported | 1.53 | 1.54 | 1.59 | 40.5 | 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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