Global| Oct 01 2013U.S. Vehicle Sales Back Away From Recent High
by:Tom Moeller
|in:Economy in Brief
Summary
Vehicle sales gave back some of their earlier strength last month. Unit sales of light motor vehicles fell 5.1% (+3.4% y/y) during September versus August to 15.28 million (SAAR) according to the Autodata Corporation. The latest sales [...]
Vehicle sales gave back some of their earlier strength last month. Unit sales of light motor vehicles fell 5.1% (+3.4% y/y) during September versus August to 15.28 million (SAAR) according to the Autodata Corporation. The latest sales level was the lowest since April.
Auto sales declined 3.9% m/m (+2.6% y/y) to 7.72 million last month. Domestic car sales were off 5.1% (+2.3% y/y) to 5.35 million while sales of imports fell 1.0% (+3.1% y/y) to 2.37 million. Light truck sales fell 6.2% (+4.2% y/y) in September to 7.56 million. Domestic light truck sales declined 7.3% (+2.7% y/y) to 6.46 million. To the upside, sales of imported light trucks ticked 0.4% higher month-to-month (13.9% y/y) to 1.10 million.
Imports share of the U.S. light vehicle market jumped m/m to 22.7% in September, its highest level since May of last year. (Imported vehicles are those produced outside the United States.) That share remained down, however, from its peak of 29.9% in Q1'09. Imports' share of the U.S. car market improved m/m to 30.7% but remained down from its 37.6% monthly peak in 2010. Imports' share of the light truck market improved to 14.5% last month.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Sep | Aug | Jul | Y/Y % | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total | 15.28 | 16.09 | 15.80 | 3.4 | 14.49 | 12.78 | 11.59 |
| Autos | 7.72 | 8.03 | 7.94 | 2.6 | 7.42 | 6.23 | 5.77 |
| Domestic | 5.35 | 5.64 | 5.63 | 2.3 | 5.10 | 4.21 | 3.76 |
| Imported | 2.37 | 2.39 | 2.30 | 3.1 | 2.32 | 2.02 | 2.01 |
| Light Trucks | 7.56 | 8.06 | 7.87 | 4.2 | 7.08 | 6.55 | 5.82 |
| Domestic | 6.47 | 6.97 | 6.71 | 2.7 | 6.10 | 5.55 | 4.86 |
| Imported | 1.10 | 1.09 | 1.16 | 13.9 | 0.97 | 1.00 | 0.96 |
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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