Global| Sep 04 2013U.S. Vehicle Sales Rise To Six-Year High
by:Tom Moeller
|in:Economy in Brief
Summary
Motor dealer showrooms were quite busy places last month. Unit sales of light motor vehicles gained 1.8% during August versus July to 16.09 million (SAAR) according to the Autodata Corporation. The latest sales level was the highest [...]
Motor dealer showrooms were quite busy places last month. Unit sales of light motor vehicles gained 1.8% during August versus July to 16.09 million (SAAR) according to the Autodata Corporation. The latest sales level was the highest since October 2007, just before the recession began. Earlier data were revised to reflect new seasonal factors.
Auto sales increased 1.2% m/m (9.1% y/y) to 8.03 million last month. Domestic car sales were essentially flat at 5.64 million (7.6% y/y) but sales of imports rose 3.9% (12.7% y/y) to 2.39 million. Light truck sales gained 2.9% (13.2% y/y) in August to 8.06 million. Domestic light truck sales increased 3.8% (11.5% y/y) to 6.97 million. Sales of imported light trucks fell 5.3% month-to-month (+25.3% y/y) to 1.09 million.
Imports' share of the U.S. light vehicle market slipped m/m to 21.7% in August. (Imported vehicles are those produced outside the United States.) That share remained down from its peak of 29.9% in Q1'09. Imports' share of the U.S. car market improved m/m to 29.8% but remained down from its 37.6% monthly peak in 2010. Imports' share of the light truck market fell to 13.6% last month and remained down from its 23.8% peak in early-2009.
U.S. vehicle sales figures can be found in Haver's USECON database.
The Fed's latest Beige Book covering regional economic conditions can be found here.
| Light Vehicle Sales (SAAR, Mil. Units) | Aug | Jul | Jun | Y/Y % | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total | 16.09 | 15.80 | 15.88 | 11.1 | 14.49 | 12.78 | 11.59 |
| Autos | 8.03 | 7.94 | 7.88 | 9.1 | 7.42 | 6.23 | 5.77 |
| Domestic | 5.64 | 5.63 | 5.62 | 7.6 | 5.10 | 4.21 | 3.76 |
| Imported | 2.39 | 2.30 | 2.26 | 12.7 | 2.32 | 2.02 | 2.01 |
| Light Trucks | 8.06 | 7.87 | 8.00 | 13.2 | 7.08 | 6.55 | 5.82 |
| Domestic | 6.97 | 6.71 | 6.84 | 11.5 | 6.10 | 5.55 | 4.86 |
| Imported | 1.09 | 1.16 | 1.16 | 25.3 | 0.97 | 1.00 | 0.96 |
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.
