Global| Jul 05 2017U.S. Light Vehicle Sales Slip Again
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles during June eased 0.9% (-1.8% y/y) to 16.51 million units (SAAR) from 16.66 million in May, according to the Autodata Corporation. Sales have fallen 10.4% since the December 2016 peak. Light truck sales [...]
Total sales of light vehicles during June eased 0.9% (-1.8% y/y) to 16.51 million units (SAAR) from 16.66 million in May, according to the Autodata Corporation. Sales have fallen 10.4% since the December 2016 peak.
Light truck sales improved 1.3% (6.0% y/y) versus May to 10.60 million. Sales of domestically-made light trucks increased 2.8% (5.0% y/y) to 8.77 million units. Imported light truck sales backed 5.3% away (+11.5% y/y) from May's record high to 1.82 million units. Trucks' share of the U.S. vehicle market jumped to a record 64.2%, up from 59.5% twelve months earlier.
Passenger car sales declined 4.7% (-13.2% y/y) to 5.91 million units. Domestically-made passenger car sales fell 5.0% (-14.5% y/y) to 4.27 million units, the lowest level since November 2011. Sales of imported passenger cars declined 4.0% (-9.4% y/y) to 1.64 million units and was roughly the lowest level since December 2008.
Imports share of the U.S. vehicle market fell m/m to 21.0%. Imports share of the passenger car market rose slightly to 27.7%. Imports share of the light truck market declined to 17.2%, but still was higher than 12.7% during all of 2014.
U.S. vehicle sales figures are published by the Autodata Corporation and can be found in Haver's USECON database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Jun | May | Apr | Jun Y/Y % | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Total | 16.51 | 16.66 | 16.88 | -1.8 | 17.55 | 17.42 | 16.52 |
| Autos | 5.91 | 6.20 | 6.42 | -13.2 | 7.11 | 7.72 | 7.92 |
| Domestic | 4.27 | 4.50 | 4.70 | -14.5 | 5.20 | 5.63 | 5.68 |
| Imported | 1.64 | 1.71 | 1.73 | -9.4 | 1.91 | 2.09 | 2.24 |
| Light Trucks | 10.60 | 10.46 | 10.46 | 6.0 | 10.44 | 9.70 | 8.60 |
| Domestic | 8.77 | 8.53 | 8.58 | 5.0 | 8.75 | 8.34 | 7.51 |
| Imported | 1.82 | 1.92 | 1.88 | 11.5 | 1.68 | 1.36 | 1.09 |
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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