Global| Apr 03 2017U.S. Light Vehicle Sales Weaken Significantly
by:Tom Moeller
|in:Economy in Brief
Summary
Total sales of light vehicles declined 5.4% m/m during March (-0.3% y/y) to 16.62 million units (SAAR), according to the Autodata Corporation. It was the lowest level of sales since February 2015. Light truck sales fell 6.8% (+6.3% [...]
Total sales of light vehicles declined 5.4% m/m during March (-0.3% y/y) to 16.62 million units (SAAR), according to the Autodata Corporation. It was the lowest level of sales since February 2015.
Light truck sales fell 6.8% (+6.3% y/y) to 10.30 million. Domestically-made light truck sales were off 6.8% (+5.5% y/y) to 8.65 million units. Imported light truck sales similarly declined 6.8% (+10.8% y/y) to 1.65 million units. Trucks' share of the U.S. vehicle market eased to 62.0% from the record of 62.8% during February.
Passenger car sales eased 3.2% (-9.4% y/y) to 6.32 million units. Domestically-made passenger car sales fell 1.7% to 4.60 million units (-10.6% y/y), the lowest level since December 2011. Sales of imported passenger cars fell 6.9% (-6.0% y/y) to 1.73 million units.
Imports share of the U.S. vehicle market eased m/m to 20.3%. Imports share of the passenger car market declined to 27.3%, a three-month low. Imports share of the light truck market held steady at 16.0%, up from 12.7% during all of 2014.
U.S. vehicle sales figures are published by the Autodata Corporation and can be found in Haver's USECON database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Mar | Feb | Jan | Mar Y/Y % | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Total | 16.62 | 17.58 | 17.61 | -0.3 | 17.55 | 17.42 | 16.52 |
| Autos | 6.32 | 6.53 | 6.58 | -9.4 | 7.11 | 7.72 | 7.92 |
| Domestic | 4.60 | 4.67 | 4.67 | -10.6 | 5.20 | 5.63 | 5.68 |
| Imported | 1.73 | 1.86 | 1.91 | -6.0 | 1.91 | 2.09 | 2.24 |
| Light Trucks | 10.30 | 11.05 | 11.03 | 6.3 | 10.44 | 9.70 | 8.60 |
| Domestic | 8.65 | 9.28 | 9.22 | 5.5 | 8.75 | 8.34 | 7.51 |
| Imported | 1.65 | 1.77 | 1.80 | 10.8 | 1.68 | 1.36 | 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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