Global| Dec 01 2009U.S. Vehicle Sales Move Slightly Higher During November
by:Tom Moeller
|in:Economy in Brief
Summary
U.S. unit sales of light vehicles during November showed that consumers' interest in making big-ticket purchases is recovering from the recession lows. Sales rose 4.5% m/m to 10.93M units according to the Autodata Corporation. [...]
U.S.
unit sales of light vehicles during November showed
that consumers' interest in making big-ticket purchases is recovering
from the recession lows. Sales rose 4.5% m/m to 10.93M units according
to the Autodata Corporation. November sales were stronger than
Consensus expectations for 10.5M and sales have risen 19.2% from the
February low. (Seasonal adjustment of the figures is provided by the
U.S. Bureau of Economic Analysis).
Sales of domestically made vehicles rose 5.4% last month to 8.17M units. They now have recovered 28.2% from the February low. Sales of fuel efficient cars rose 3.7% and have risen 27.9% from the low. Light truck sales increased 6.8% m/m and were 28.4% above the low. · Imported light vehicle sales rose a modest 1.9% to 2.76M but were up 9.7% from the recession low in April. Sales of imported autos inched up 0.6% m/m and 11.2% from the low while imported light truck sales rose 4.8% and 6.7% from the low.
Overall,
import's share of the U.S. light vehicle market fell to
25.2% last month from 25.9% in October. It reached 26.5% during all of
last year. (Imported vehicles are those produced outside the United
States.) Imports' share of the U.S. car market totaled 33.2% versus
34.3% during all of last year while the share of the light truck market
was 16.7%, down from 18.3% last year.
The U.S. vehicle sales figures can be found in Haver's USECON database.
The price of gasoline and the demand for fuel economy: evidence from monthly new vehicles sales data from the Federal Reserve Bank of Chicago is available here.
| Light Vehicle Sales (SAAR, Mil. Units) | November | October | September | Nov. Y/Y | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|
| Total | 10.93 | 10.46 | 9.22 | 4.9% | 13.17 | 16.16 | 16.54 |
| Autos | 5.65 | 5.50 | 5.02 | 9.7 | 6.71 | 7.58 | 7.77 |
| Domestic | 3.77 | 3.64 | 3.25 | 12.7 | 4.42 | 5.07 | 5.31 |
| Imported | 1.88 | 1.87 | 1.77 | 4.2 | 2.29 | 2.52 | 2.45 |
| Light Trucks | 5.28 | 4.96 | 4.20 | 0.2 | 6.47 | 8.60 | 8.78 |
| Domestic | 4.40 | 4.12 | 3.37 | 2.6 | 5.29 | 7.10 | 7.42 |
| Imported | 0.88 | 0.84 | 0.83 | -10.3 | 1.18 | 1.47 | 1.37 |
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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