Global| Jul 01 2014U.S. Vehicle Sales Reach Highest Level Since 2006
by:Tom Moeller
|in:Economy in Brief
Summary
June was a strong prelude to summer for auto-dealers. According to the Autodata Corporation, unit sales of light vehicles increased 1.2% (6.9% y/y) versus May to 16.98 million (SAAR), the highest level since January 2006. The gain [...]
June was a strong prelude to summer for auto-dealers. According to the Autodata Corporation, unit sales of light vehicles increased 1.2% (6.9% y/y) versus May to 16.98 million (SAAR), the highest level since January 2006. The gain raised sales by 10.3% since December and 87.7% since the recession low.
Auto purchases improved 3.1% (5.3% y/y) to 8.30 million after a 6.6% rise. Sales of domestic autos increased 4.2% (5.2% y/y) to 5.91 million after a 6.5% May gain. Sales of imports edged 0.6% higher (5.5% y/y) to 2.39 million following a 6.8% jump.
Sales of light trucks slipped 0.5% m/m (+8.6% y/y) to 8.69 million after a 2.8% rise. For the second consecutive month, imported light truck sales showed notable strength. The 7.1% increase (-1.6% y/y) to 1.14 million followed a similar gain in May. Domestic light truck sales declined 1.5% (+10.3% y/y) to 7.55 million and reversed most of the prior month's gain.
Imports' share of the U.S. light vehicle market improved to 20.8% last month. By vehicle type, imports' share of the U.S. car market fell to 28.8%. Imports' share of the light truck market increased to 13.1%.
U.S. vehicle sales figures can be found in Haver's USECON database.
Increasing House Values Playing Significant Role in Wealth Recovery from the Federal Reserve Bank of St. Louis is available here.
| Light Vehicle Sales (SAAR, Mil. Units) | Jun | May | Apr | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Total | 16.98 | 16.77 | 16.04 | 6.9 | 15.55 | 14.49 | 12.78 |
| Autos | 8.30 | 8.04 | 7.55 | 5.3 | 7.77 | 7.42 | 6.23 |
| Domestic | 5.91 | 5.67 | 5.33 | 5.2 | 5.47 | 5.10 | 4.21 |
| Imported | 2.39 | 2.37 | 2.22 | 5.5 | 2.29 | 2.32 | 2.02 |
| Light Trucks | 8.69 | 8.73 | 8.49 | 8.6 | 7.79 | 7.08 | 6.55 |
| Domestic | 7.55 | 7.67 | 7.51 | 10.3 | 6.71 | 6.10 | 5.55 |
| Imported | 1.14 | 1.06 | 0.99 | -1.6 | 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.
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