Global| Feb 04 2020U.S. Light Vehicle Sales Strengthen
by:Tom Moeller
|in:Economy in Brief
Summary
The Autodata Corporation reported that sales of light vehicles during January edged 1.1% higher (2.0% y/y) to 17.05 million units (SAAR) from 16.87 million in December. During the last three months, sales averaged 17.00 million units, [...]
The Autodata Corporation reported that sales of light vehicles during January edged 1.1% higher (2.0% y/y) to 17.05 million units (SAAR) from 16.87 million in December. During the last three months, sales averaged 17.00 million units, a figure that has been trending lower since the 2016 sales peak of 17.55 million units.
Sales of light trucks increased 3.5% (9.7% y/y) to 12.56 million units. Purchases of domestically-made light trucks rose 4.2% (10.5% y/y) to 9.98 million units following December's 3.7% fall. Sales of imported light trucks improved 0.8% (6.6% y/y) to 2.58 million units after December's 4.1% decline. Imported light truck sales have roughly doubled in the past five years.
Trucks' share of the U.S. light vehicle market rose to a record 73.7%, up from a low of 48.8% during all of 2012.
Auto sales declined 5.3% (-15.0% y/y) to 4.48 million. That remained below a peak level of 7.71 million unit sales during all of 2014. Purchases of domestically-produced cars fell 7.0% (-16.2% y/y) to 3.32 million units and reversed December's rise. Sales of imported cars held steady (-11.5% y/y) at 1.16 million units and have been trending lower since 2011.
Imports' share of the U.S. vehicle market was steady last month at 22.0%. Imports' share of the passenger car market rebounded to 25.9% after falling in December. Imports share of the light truck market slipped to 20.5% but 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) | Jan | Dec | Nov | Jan Y/Y % | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Total | 17.05 | 16.87 | 17.20 | 2.0 | 17.00 | 17.27 | 17.23 |
| Autos | 4.48 | 4.73 | 4.58 | -15.0 | 4.80 | 5.36 | 6.16 |
| Domestic | 3.32 | 3.57 | 3.34 | -16.2 | 3.52 | 4.00 | 4.58 |
| Imported | 1.16 | 1.16 | 1.24 | -11.5 | 1.28 | 1.36 | 1.59 |
| Light Trucks | 12.56 | 12.14 | 12.62 | 9.7 | 12.18 | 11.92 | 11.07 |
| Domestic | 9.98 | 9.58 | 9.95 | 10.5 | 9.65 | 9.44 | 9.00 |
| Imported | 2.58 | 2.56 | 2.67 | 6.6 | 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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