Global| Aug 02 2011U.S. Vehicle Sales Rise After Two-Months Of Decline
by:Tom Moeller
|in:Economy in Brief
Summary
Unit sales of light vehicles during July recovered some of the prior two months' weakness with a 5.8% increase to 12.23M units (SAAR). Sales had fallen 1.4% and 11.0% m/m during June and May, respectively. Figures were revised [...]
Unit sales of light vehicles during July recovered some of the prior two months' weakness with a 5.8% increase to 12.23M units (SAAR). Sales had fallen 1.4% and 11.0% m/m during June and May, respectively. Figures were revised slightly with the benchmark NIPA revisions. (Seasonal adjustment of these figures is provided by the U.S. Bureau of Economic Analysis.)
Sales of autos rose all of 1.5% m/m to 5.72M leaving sales 15.7% off the March peak. Sales of domestics rose 1.3% and remained 15.0% off the peak while sales of relatively fuel efficient imports rose 1.8%, down 19.6% from the peak back in September 2010.
Less fuel efficient light truck sales rose 9.8% m/m to 6.51M. Domestic model sales rose 11.2% to 5.56M and set a recovery high. Import light truck sales rose a lesser 2.1% to 0.95M, off 12.2% from the February high.
Imports' share of the U.S. light vehicle market fell to 22.3%, the lowest since early-2006. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market held m/m at 31.2% versus the record 34.7% for all of 2009. Imports' share of the light truck market fell to 14.5% 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) | Jul | Jun | May | Y/Y | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Total | 12.23 | 11.56 | 11.73 | 5.8% | 11.58 | 10.38 | 13.22 |
| Autos | 5.72 | 5.64 | 5.78 | 0.6 | 5.79 | 5.45 | 6.76 |
| Domestic | 3.93 | 3.88 | 3.89 | 5.9 | 3.78 | 3.56 | 4.44 |
| Imported | 1.79 | 1.75 | 1.89 | -9.3 | 2.00 | 1.89 | 2.32 |
| Light Trucks | 6.51 | 5.93 | 5.95 | 11.9 | 5.79 | 4.93 | 6.46 |
| Domestic | 5.56 | 5.00 | 5.05 | 13.1 | 4.84 | 3.96 | 5.28 |
| Imported | 0.95 | 0.93 | 0.90 | -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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