Global| Jan 03 2020U.S. Light Vehicle Sales Slip in December and for all of 2019
by:Tom Moeller
|in:Economy in Brief
Summary
The Autodata Corporation reported that December sales of light vehicles fell 1.9% from November (-3.3% y/y) to 16.87 million units (SAAR). Earlier figures were revised. For the full year 2019 sales of 17.00 million units compared to [...]
The Autodata Corporation reported that December sales of light vehicles fell 1.9% from November (-3.3% y/y) to 16.87 million units (SAAR). Earlier figures were revised. For the full year 2019 sales of 17.00 million units compared to 17.27 million during all of 2018 and have been fairly flat for the last five years. During the last three months, sales averaged 16.90 million units, the weakest three-month reading since April.
Sales of light trucks declined 3.8% (-0.7% y/y) to 12.14 million units, the lowest level since April. Purchases of domestically-made light trucks fell 3.7% (-1.0% y/y) to 9.58 million units after November's 3.4% rise. Sales of imported light trucks were off 4.1% (+0.8% y/y) to 2.56 million units. Despite the decline, imported light truck sales have roughly doubled in the past five years.
Trucks' share of the U.S. light vehicle market eased from the record in November to 72.0%, but remained up from a low of 48.8% during all of 2012.
Auto sales rose 3.3% (-9.4% y/y) to 4.73 million, the highest level since July. Sales compared to a peak level of 7.71 million unit sales during all of 2014. Purchases of domestically-produced cars increased 6.9% (-10.3% y/y) to 3.57 million units, the highest level in nine months. Sales of imported cars weakened 6.5% both m/m and y/y to 1.16 million units, the fifth decline in six months.
Imports' share of the U.S. vehicle market fell to 22.1%. Imports' share of the passenger car market fell sharply to 24.5%. Imports share of the light truck market held steady at 21.1% and remained up from the 12.0% low in January 2015.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Dec | Nov | Oct | Dec Y/Y % | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Total | 16.87 | 17.20 | 16.58 | -3.3 | 17.00 | 17.27 | 17.23 |
| Autos | 4.73 | 4.58 | 4.38 | -9.4 | 4.80 | 5.36 | 6.16 |
| Domestic | 3.57 | 3.34 | 3.11 | -10.3 | 3.52 | 4.00 | 4.58 |
| Imported | 1.16 | 1.24 | 1.27 | -6.5 | 1.28 | 1.36 | 1.59 |
| Light Trucks | 12.14 | 12.62 | 12.20 | -0.7 | 12.18 | 11.92 | 11.07 |
| Domestic | 9.58 | 9.95 | 9.62 | -1.0 | 9.65 | 9.44 | 9.00 |
| Imported | 2.56 | 2.67 | 2.59 | 0.8 | 2.53 | 2.48 | 2.07 |
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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