Global| Dec 01 2015U.S. Light Vehicle Sales Remain Strong Despite Monthly Dip
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles eased 0.3% during November to 18.19 million units (SAAR) following a like increase in October. Sales have risen 6.2% since last November and were near the highest level since July 2005. Passenger car [...]
Total sales of light vehicles eased 0.3% during November to 18.19 million units (SAAR) following a like increase in October. Sales have risen 6.2% since last November and were near the highest level since July 2005.
Passenger car sales led the way lower last month and fell 2.5% to 7.81 million after a 1.3% October rise. Sales were down by 4.0% versus one year earlier. Domestic car sales declined 3.0% to 5.71 million and were down 5.6% from the peak during August 2014. Sales of imported autos eased a lesser 0.9% to 2.10 and have been falling steadily since Q4'13.
Sales of light trucks increased 1.5% to 10.38 million after having been roughly unchanged m/m in October. Light truck sales share of the total new vehicle market rose to 57.1%, the highest level since a spike in July 2005. Purchases were up 15.5% versus a year earlier. Imported light truck sales rose 2.5% to 1.66 million, a record high. Sales of domestically made trucks gained 1.3% to 8.72 million.
Imports share of the market for light vehicles improved to 20.7%, still lower than a high of 30.7% in February 2009. Imports share of the light truck market added to earlier gains with a rise to 16.0%, its highest since March 2011. Imports share of the passenger car market was little changed m/m at 26.9%, remaining below the 34.8% peak during all of 2010.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Nov | Oct | Sep | Nov Y/Y % | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Total | 18.19 | 18.24 | 18.17 | 6.2 | 16.52 | 15.59 | 14.49 |
| Autos | 7.81 | 8.01 | 7.91 | -4.0 | 7.92 | 7.77 | 7.42 |
| Domestic | 5.71 | 5.89 | 5.83 | -4.5 | 5.68 | 5.48 | 5.10 |
| Imported | 2.10 | 2.12 | 2.08 | -2.8 | 2.24 | 2.30 | 2.32 |
| Light Trucks | 10.38 | 10.23 | 10.26 | 15.5 | 8.60 | 7.82 | 7.08 |
| Domestic | 8.72 | 8.61 | 8.88 | 11.4 | 7.51 | 6.74 | 6.10 |
| Imported | 1.66 | 1.62 | 1.37 | 43.1 | 1.09 | 1.08 | 0.97 |
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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