Global| Feb 04 2008U.S. Vehicle Sales in January Lowest in Over Two Years
by:Tom Moeller
|in:Economy in Brief
Summary
U.S. sales of light vehicles in January fell 6.3% m/m to a 15.24M unit annual selling rate, according to the Autodata Corporation. That rate of sales was the lowest since October of 2005. After two years when sales fell 2.2% in 2007 [...]
U.S. sales of light vehicles in January fell 6.3% m/m to a 15.24M unit annual selling rate, according to the Autodata Corporation. That rate of sales was the lowest since October of 2005. After two years when sales fell 2.2% in 2007 and 2.5% in 2006, sales started 2008 5.8% below the 2007 average.
Sales of domestically made light vehicles fell 3.8% last month after a 0.6% dip in December. Sales of U.S. made cars dropped 3.8% after the 4.8% December decline. Sales of domestically made cars also dropped 3.8% after a 4.8% m/m December decline while sales of domestically made light trucks also fell 3.8%. That gave back all of a 2.9% December gain.
Sales of imported light vehicles plunged 13.6% to 3.57M units, the lowest since early 2006. Sales of imported autos were off 15.4% m/m while sales of imported light trucks dropped 10.6%.
Import's share of the U.S. light vehicle market fell back to 23.5% from a record 24.6% for of last year.
Economy in Slower Traffic Through 2008 from the Federal Reserve Bank of Chicago is available here.
| Light Vehicle Sales (SAAR, Mil. Units) | January | December | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Total | 15.24 | 16.27 | -8.5% | 16.18 | 16.55 | 16.96 |
| Autos | 7.22 | 7.82 | -5.7% | 7.58 | 7.77 | 7.65 |
| Domestic | 5.01 | 5.21 | -2.2% | 5.07 | 5.31 | 5.40 |
| Imported | 2.21 | 2.62 | -12.9% | 2.51 | 2.45 | 2.25 |
| Light Trucks | 8.02 | 8.44 | -10.8% | 8.60 | 8.78 | 9.32 |
| Domestic | 6.66 | 6.92 | -10.4% | 7.12 | 7.42 | 8.12 |
| Imported | 1.36 | 1.52 | -12.5% | 1.48 | 1.37 | 1.20 |
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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