Global| Nov 02 2011U.S. Vehicle Sales Continue To Rise
by:Tom Moeller
|in:Economy in Brief
Summary
New model offerings by vehicle manufacturers helped spur sales last month. Unit sales of light vehicles during October rose an expected, according to Bloomberg, 1.2% from September to 13.26M units (SAAR) after an 8.0% September jump. [...]
New model offerings by vehicle manufacturers helped spur sales last month. Unit sales of light vehicles during October rose an expected, according to Bloomberg, 1.2% from September to 13.26M units (SAAR) after an 8.0% September jump. Sales were at the highest level since February.
The overall gain was led by autos which rose 6.0%, about as they did in September, to 6.43M units. That was the highest level since April. Sales of domestic cars rose 4.8% to 4.27M but still were down from the April high. Sales of more fuel efficient imported models rose 8.4% to 2.16M, the highest level in twelve months. Sales of light trucks fell 2.9% m/m to 6.83M. Domestic model sales fell 2.1% to 5.84M while sales of imported light trucks fell 7.4% to 0.98M. That reversed the September gain.
Imports' share of the U.S. light vehicle market again rose slightly to 23.7%. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market rose m/m to 33.6% versus the record 34.7% for all of 2009. Imports' share of the light truck market slipped to 14.4% versus 19.7% in 2009.
The U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Oct | Sep | Aug | Y/Y % | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Total | 13.26 | 13.10 | 12.12 | 8.9 | 11.58 | 10.38 | 13.22 |
| Autos | 6.43 | 6.07 | 5.71 | 9.6 | 5.79 | 5.45 | 6.76 |
| Domestic | 4.27 | 4.07 | 3.97 | 16.7 | 3.78 | 3.56 | 4.44 |
| Imported | 2.16 | 1.99 | 1.74 | -2.2 | 2.00 | 1.89 | 2.32 |
| Light Trucks | 6.83 | 7.03 | 6.41 | 8.2 | 5.79 | 4.93 | 6.46 |
| Domestic | 5.84 | 5.97 | 5.43 | 9.4 | 4.84 | 3.96 | 5.28 |
| Imported | 0.98 | 1.06 | 0.99 | 1.4 | 0.96 | 0.97 | 1.18 |
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.
