Global| Jul 06 2015U.S. Light Vehicle Sales Trend Higher Despite a June Dip
by:Tom Moeller
|in:Economy in Brief
Summary
Consumers have a strong interest in buying new vehicles these days, even though sales softened a bit in June. During the second quarter, sales rose to 17.15 million (AR), the highest level since Q3 2005. During June, however, sales of [...]
Consumers have a strong interest in buying new vehicles these days, even though sales softened a bit in June. During the second quarter, sales rose to 17.15 million (AR), the highest level since Q3 2005. During June, however, sales of light vehicles eased 3.5% to 17.16 million (+1.5% y/y) from May's high of 17.79 million. In general, vehicle sales have moved higher with the unemployment rate's decline.
Auto sales eased 4.0% in June to 7.78 million (-6.1% y/y). Domestic auto sales gave up 4.5% (-4.9% y/y) with a fall to 5.61 million. Imported car sales eased 2.7% to 2.18 million (-9.2% y/y).
Light truck purchases moved 3.2% lower versus May to 9.37 million units (+8.9% y/y). Nevertheless, trucks share of the total vehicle market at 54.6% was the highest since 2007. Domestic light truck sales declined 4.1% to 8.01 million (+7.0% y/y). Imported truck sales, however, gained 2.7% to 1.36 million (21.2% y/y), the highest level since March 2008.
Imports share of the market for light vehicles improved m/m to 20.6% but remained down versus a high of 30.7% in February 2009. Imports share of the passenger car market nudged up to 27.9%, off the March high of 29.3%. Imports share of the light truck market improved to 14.5%, the highest level since October 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) | Jun | May | Apr | Y/Y % | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Total | 17.16 | 17.79 | 16.50 | 1.5 | 16.49 | 15.58 | 14.48 |
| Autos | 7.78 | 8.11 | 7.36 | -6.1 | 7.91 | 7.78 | 7.42 |
| Domestic | 5.61 | 5.87 | 5.31 | -4.9 | 5.68 | 5.48 | 5.10 |
| Imported | 2.18 | 2.23 | 2.06 | -9.2 | 2.23 | 2.30 | 2.32 |
| Light Trucks | 9.37 | 9.68 | 9.14 | 8.9 | 8.58 | 7.81 | 7.06 |
| Domestic | 8.01 | 8.36 | 7.86 | 7.0 | 7.50 | 6.73 | 6.09 |
| Imported | 1.36 | 1.32 | 1.28 | 21.2 | 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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