Global| Jun 02 2015U.S. Light Vehicle Sales Strengthen
by:Tom Moeller
|in:Economy in Brief
Summary
Sales of light vehicles reached a fifteen year high last month. At 17.79 million (AR), sales of total light vehicles in May increased 7.8% m/m (6.3% y/y) to the highest level since July 2005. Recent sales were revised slightly higher [...]
Sales of light vehicles reached a fifteen year high last month. At 17.79 million (AR), sales of total light vehicles in May increased 7.8% m/m (6.3% y/y) to the highest level since July 2005. Recent sales were revised slightly higher from last month's report due to raised light truck sales.
It continues to be a market where light truck sales are relatively firm. Light truck purchases improved 5.9% versus April to 9.68 million units. The gain lifted them 12.0% y/y and left trucks share of the total vehicle market at 54.4%, slightly below the ten year record. Domestic light truck sales increased 6.3% to 8.36 million (10.3% y/y), the highest level since July 2005. Imported truck sales gained 3.5% to 1.32 million (24.1% y/y), the highest level since April 2008.
Auto sales increased 10.1% last month to 8.11 million but were up just 0.3% y/y. Domestic auto sales rose 10.7% (3.0% y/y) to 5.87 million. Imported car sales gained 8.6% to 2.23 million (-6.5% y/y) following a like decline in April.
Imports share of the market for light vehicles was little changed m/m at 20.0%, down versus a high of 30.7% in February 2009. Imports share of the passenger car market slipped to 27.6%, off versus the March high of 29.3%. Imports share of the light truck market slipped to 13.7% but remained near the highest level since November 2013.
U.S. vehicle sales figures are published by Autodata and can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | May | Apr | Mar | Y/Y % | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Total | 17.79 | 16.50 | 17.15 | 6.3 | 16.49 | 15.58 | 14.48 |
| Autos | 8.11 | 7.36 | 7.70 | 0.3 | 7.91 | 7.78 | 7.42 |
| Domestic | 5.87 | 5.31 | 5.45 | 3.0 | 5.68 | 5.48 | 5.10 |
| Imported | 2.23 | 2.06 | 2.26 | -6.3 | 2.23 | 2.30 | 2.32 |
| Light Trucks | 9.68 | 9.14 | 9.44 | 12.0 | 8.58 | 7.81 | 7.06 |
| Domestic | 8.36 | 7.86 | 8.24 | 10.3 | 7.50 | 6.73 | 6.09 |
| Imported | 1.32 | 1.28 | 1.20 | 24.1 | 1.08 | 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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