Global| Oct 03 2011U.S. Vehicle Sales Rise To Highest Since April
by:Tom Moeller
|in:Economy in Brief
Summary
Consumers reacted to new model offerings by manufactures with enthusiasm. Unit sales of light vehicles during September rose 6.9% from August to 13.10M units (SAAR) following a 1.1% August decline. Sales were at the highest level [...]
Consumers reacted to new model offerings by manufactures with enthusiasm. Unit sales of light vehicles during September rose 6.9% from August to 13.10M units (SAAR) following a 1.1% August decline. Sales were at the highest level since April, after which supply disruptions helped cause decline.
Light truck sales rose 9.6% m/m to 7.03M, a new high for the recovery. Domestic model sales rose 10.0% to 5.97M, a new recovery high. Import light truck sales rose 7.7% to 1.06M, still off 1.5% from the February high.
Sales of autos rose 6.2% m/m to 6.07M leaving them 10.6% off the March peak. Sales of domestics rose 2.7% but remained 12.0% off the peak while sales of relatively fuel efficient imports jumped 14.3%, down 10.2% from the peak back in September, 2010.
Imports' share of the U.S. light vehicle market again ticked up to 23.3%, still near the lowest since early-2006. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market rose m/m to 32.9% versus the record 34.7% for all of 2009. Imports' share of the light truck market slipped to 15.1% 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) | Sep | Aug | Jul | Y/Y | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Total | 13.10 | 12.12 | 12.23 | 10.8% | 11.58 | 10.38 | 13.22 |
| Autos | 6.07 | 5.71 | 5.72 | 3.1 | 5.79 | 5.45 | 6.76 |
| Domestic | 4.07 | 3.97 | 3.93 | 11.3 | 3.78 | 3.56 | 4.44 |
| Imported | 1.99 | 1.74 | 1.79 | -10.2 | 2.00 | 1.89 | 2.32 |
| Light Trucks | 7.03 | 6.41 | 6.51 | 18.4 | 5.79 | 4.93 | 6.46 |
| Domestic | 5.97 | 5.43 | 5.56 | 19.8 | 4.84 | 3.96 | 5.28 |
| Imported | 1.06 | 0.99 | 0.95 | 11.0 | 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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