Global| Dec 01 2017U.S. Light Vehicle Sales Weaken
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles declined 3.4% during November (-1.3% y/y) to 17.48 million units (SAAR) from 18.09 million in October, according to the Autodata Corporation. Sales have fallen 5.9% from the September high. Light truck [...]
Total sales of light vehicles declined 3.4% during November (-1.3% y/y) to 17.48 million units (SAAR) from 18.09 million in October, according to the Autodata Corporation. Sales have fallen 5.9% from the September high.
Light truck sales declined 3.9% (+4.1 % y/y) to 11.08 million after a 2.0% October drop. Domestically-made light trucks fell 4.7% (+2.1% y/y) to 9.05 million units following a 2.1% decline. Imported light truck sales eased 0.3% (+13.6% y/y) to 2.03 million units, remaining near the record high.
Trucks' share of the U.S. vehicle market was little-changed m/m at 63.4% in November, but was higher than 51.2% ten years earlier.
The passenger car market also weakened as sales fell 2.5% (-9.4% y/y) to 6.39 million units, the lowest level in three months. Domestically-produced passenger car sales were off 1.1% last month (-8.3% y/y) to 4.70 million units after a 4.1% decline. Sales of imported passenger cars dropped 6.0% (-12.3% y/y) to 1.70 million units on the heels of a 2.6% decline.
Imports share of the U.S. vehicle market held steady m/m at 21.3%, but was up from 19.9% during all of 2015. Imports share of the passenger car market fell to 26.5%, and recently has been little-changed. Imports share of the light truck market strengthened m/m to 18.4%, up from 12.7% in 2014.
U.S. vehicle sales figures are published by the Autodata Corporation and can be found in Haver's USECON database.
What's Down with Inflation? from the Federal Reserve Bank of San Francisco is available here.
| Light Weight Vehicle Sales (SAAR, Million Units) | Nov | Oct | Sep | Nov Y/Y % | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Total | 17.48 | 18.09 | 18.57 | -1.3 | 17.55 | 17.42 | 16.52 |
| Autos | 6.39 | 6.56 | 6.81 | -9.4 | 7.10 | 7.73 | 7.92 |
| Domestic | 4.70 | 4.75 | 4.95 | -8.3 | 5.20 | 5.63 | 5.68 |
| Imported | 1.70 | 1.81 | 1.85 | -12.3 | 1.90 | 2.10 | 2.24 |
| Light Trucks | 11.08 | 11.53 | 11.76 | 4.1 | 10.44 | 9.74 | 8.60 |
| Domestic | 9.05 | 9.49 | 9.69 | 2.1 | 8.75 | 8.37 | 7.51 |
| Imported | 2.03 | 2.04 | 2.07 | 13.6 | 1.69 | 1.38 | 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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