Global| Aug 01 2014U.S. Vehicle Sales Back Off A Bit
by:Tom Moeller
|in:Economy in Brief
Summary
According to the Autodata Corporation, sales of light vehicles declined 2.5% during July to 16.48 million units (SAAR). Sales still were 4.6% higher y/y. Moreover, sales were 2.7% higher versus December and up 82.2% since the [...]
According to the Autodata Corporation, sales of light vehicles declined 2.5% during July to 16.48 million units (SAAR). Sales still were 4.6% higher y/y. Moreover, sales were 2.7% higher versus December and up 82.2% since the recession low in 2009.
Auto purchases declined 3.6% (+1.2% y/y) to 8.00 million after a 2.5% rise during June. Sales of domestic autos fell 1.9% (+3.2% y/y) to 5.78 million after a 3.4% gain. Sales of imports declined 7.6% (-3.7% y/y) to 2.21 million following a 0.4% uptick.
Sales of light trucks declined 1.4% m/m (+8.0% y/y) to 8.49 million. The fall was the third in the last four months. Domestic light truck sales declined 1.4% (+9.9% y/y) to 7.38 million, about the same fall as in June. Sales of imported light trucks fell 1.6% (-3.7% y/y) to 1.10 million, following two monthly increases of just over 5%.
Imports' share of the U.S. light vehicle market fell to 20.1% last month. That's versus a high of 30.7% in February 2009. By vehicle type, imports' share of the U.S. car market fell to 27.7%, the lowest level since January 2006. Imports' share of the light truck market was unchanged at 13.0%.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Jul | Jun | May | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Total | 16.48 | 16.90 | 16.73 | 4.6 | 15.56 | 14.49 | 12.78 |
| Autos | 8.00 | 8.29 | 8.09 | 1.2 | 7.77 | 7.42 | 6.23 |
| Domestic | 5.78 | 5.90 | 5.70 | 3.2 | 5.47 | 5.10 | 4.21 |
| Imported | 2.21 | 2.40 | 2.39 | -3.7 | 2.29 | 2.32 | 2.02 |
| Light Trucks | 8.49 | 8.61 | 8.64 | 8.0 | 7.79 | 7.08 | 6.55 |
| Domestic | 7.38 | 7.49 | 7.58 | 9.9 | 6.71 | 6.10 | 5.55 |
| Imported | 1.10 | 1.12 | 1.07 | -3.7 | 1.08 | 0.97 | 1.00 |
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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