Global| Jun 01 2018U.S. Light Vehicle Sales Slip
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles declined 1.5% during May (+0.7% y/y) to 16.91 million units (SAAR), following a 1.8% April decline to 17.17 million units, according to the Autodata Corporation. The decline left sales 8.9% below the [...]
Total sales of light vehicles declined 1.5% during May (+0.7% y/y) to 16.91 million units (SAAR), following a 1.8% April decline to 17.17 million units, according to the Autodata Corporation. The decline left sales 8.9% below the 18.57 million unit high reached last September. May sales declined 5.3% since December, following a 1.7% twelve-month shortfall during 2017.
Sales of light trucks declined 2.2% (+8.7% y/y) to 11.48 million units. Domestic light truck sales eased 2.1% (+5.1% y/y) to 9.09 million units. Sales of imported light trucks fell 2.5% (+25.4% y/y) to 2.39 million units.
Passenger car sales were fairly steady m/m at 5.44 million units. Sales of domestically made autos eased 0.1% (-13.5% y/y) to 3.90 million units, the lowest level since November 2010. Sales of imported passenger cars improved 0.7% (-11.1% y/y) to 1.54 million units.
Trucks' share of the U.S. vehicle market slipped to 67.9% in May, but remained up versus 63.2% during all of last year and 48.8% during all of 2008.
Imports' share of the U.S. vehicle market was steady at 23.2% last month, up from 19.9% in 2015. Imports' share of the passenger car market increased to 28.3% from 27.7% last year. Imports share of the light truck market held steady at 20.8% versus a 12.7% low during 2014.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Weight Vehicle Sales (SAAR, Million Units) | May | Apr | Mar | May Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total | 16.91 | 17.17 | 17.48 | 0.7 | 17.27 | 17.55 | 17.48 |
| Autos | 5.44 | 5.43 | 5.62 | -12.8 | 6.35 | 7.10 | 7.73 |
| Domestic | 3.90 | 3.91 | 4.10 | -13.5 | 4.59 | 5.20 | 5.63 |
| Imported | 1.54 | 1.53 | 1.51 | -11.1 | 1.76 | 1.90 | 2.10 |
| Light Trucks | 11.48 | 11.73 | 11.87 | 8.7 | 10.92 | 10.44 | 9.74 |
| Domestic | 9.09 | 9.28 | 9.64 | 5.1 | 9.02 | 8.75 | 8.37 |
| Imported | 2.39 | 2.45 | 2.23 | 25.4 | 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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