Global| Sep 01 2011U.S. Vehicle Sales Inch Lower
by:Tom Moeller
|in:Economy in Brief
Summary
For all the fears about consumer spending, automobiles remain on the shopping list.Unit sales of light vehicles during August slipped just 0.8% from July to 12.12M units (SAAR) following a 5.8% July increase. Sales continued a [...]
For all the fears about consumer spending, automobiles remain on the shopping list.Unit sales of light vehicles during August slipped just 0.8% from July to 12.12M units (SAAR) following a 5.8% July increase. Sales continued a moderate recovery following the earthquake in Japan which greatly depressed sales during May and June.
Sales of autos slipped 0.2% m/m to 5.71M leaving them 15.8% off the March peak. Sales of domestics rose 0.8% and remained 14.3% off the peak while sales of relatively fuel efficient imports fell 2.3%, down 21.5% from the peak back in September 2010.
Less fuel efficient light truck sales fell 1.5% m/m to 6.41M. Domestic model sales fell 2.4% to 5.43M. Import light truck sales rose 4.2% to 0.99M, still off 8.6% from the February high.
Imports' share of the U.S. light vehicle market ticked up to 22.5%, still the lowest since early-2006. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market fell m/m to 30.6% versus the record 34.7% for all of 2009. Imports' share of the light truck market rose to 15.4% 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) | Aug | Jul | Jun | Y/Y | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Total | 12.12 | 12.23 | 11.56 | 5.0% | 11.58 | 10.38 | 13.22 |
| Autos | 5.71 | 5.72 | 5.64 | -0.2 | 5.79 | 5.45 | 6.76 |
| Domestic | 3.97 | 3.93 | 3.88 | 10.1 | 3.78 | 3.56 | 4.44 |
| Imported | 1.74 | 1.79 | 1.75 | -17.7 | 2.00 | 1.89 | 2.32 |
| Light Trucks | 6.41 | 6.51 | 5.93 | 10.2 | 5.79 | 4.93 | 6.46 |
| Domestic | 5.43 | 5.56 | 5.00 | 12.1 | 4.84 | 3.96 | 5.28 |
| Imported | 0.99 | 0.95 | 0.93 | 0.5 | 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.
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