Global| Apr 01 2014U.S. Vehicle Sales Reach Expansion High
by:Tom Moeller
|in:Economy in Brief
Summary
According to the Autodata Corporation, unit sales of light vehicle sales during March rose 7.1% y/y to 16.40 million (SAAR), roughly the highest level since February 2007. On a month-to-month basis, sales improved 6.9%. Sales of light [...]
According to the Autodata Corporation, unit sales of light vehicle sales during March rose 7.1% y/y to 16.40 million (SAAR), roughly the highest level since February 2007. On a month-to-month basis, sales improved 6.9%.
Sales of light trucks increased a strong 8.1% m/m (11.9% y/y) to 8.65 million, pulling them to the highest level since September 2007. Sales of domestic light truck sales rebounded 8.1% (12.8% y/y) to 7.56 million. Imported light truck sales weren't far behind with a 7.6% (6.0% y/y) gain to 1.09 million.
Auto purchases also posted a firm 5.6% (2.2% y/y) rise to 7.75 million but they were down from November's high of 8.14 million. Sales of domestic autos improved 5.5% (1.2% y/y) to 5.48 million. Sales of imports gained 5.8% (5.2% y/y) to 2.27 million.
Imports' share of the U.S. light vehicle market held roughly steady at 20.5% last month. By vehicle type, imports' share of the U.S. car market was roughly steady at 29.3%. Imports' share of the light truck market held at 12.6%.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Mar | Feb | Jan | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Total | 16.40 | 15.34 | 15.24 | 7.1 | 15.55 | 14.49 | 12.78 |
| Autos | 7.75 | 7.34 | 7.30 | 2.3 | 7.77 | 7.42 | 6.23 |
| Domestic | 5.48 | 5.19 | 5.12 | 1.2 | 5.47 | 5.10 | 4.21 |
| Imported | 2.27 | 2.15 | 2.17 | 5.2 | 2.29 | 2.32 | 2.02 |
| Light Trucks | 8.65 | 8.00 | 7.95 | 11.9 | 7.79 | 7.08 | 6.55 |
| Domestic | 7.56 | 6.99 | 7.00 | 12.8 | 6.71 | 6.10 | 5.55 |
| Imported | 1.09 | 1.01 | 0.95 | 6.0 | 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.
More Economy in Brief
