Global| Feb 02 2012U.S. Vehicle Sales Strength Driven By Cars
by:Tom Moeller
|in:Economy in Brief
Summary
Sales of light motor vehicles began the year on a strong note. Unit sales of light vehicles rose to 14.19M (AR) last month, up 11.7% from one year earlier. That selling rate was up from 13.56M during December and was the highest since [...]
Sales of light motor vehicles began the year on a strong note. Unit sales of light vehicles rose to 14.19M (AR) last month, up 11.7% from one year earlier. That selling rate was up from 13.56M during December and was the highest since May, 2008. It also beat the Consensus estimate for 13.5M sales, according to Bloomberg.
The overall sales gain last month reflected higher auto sales. Their 13.9% m/m increase (20.4% y/y) to 7.42M was to the highest level since June 2008. It owed to a 19.0% (19.5% y/y) gain in domestic car sales to 5.00M and a 4.6% rise (22.1% y/y) rise in imports at 2.42M. Light truck sales fell 4.0% m/m (+3.6% y/y) to 6.76M reflecting a 5.3% decline (+4.5% y/y) to 5.73M in domestic truck purchases. Sales of imported light trucks rose 3.5% (-1.1% y/y) to 1.03M.
Imports' share of the U.S. light vehicle market held at 24.3% in January, roughly stable with last year. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market slipped m/m to 32.6% (32.4% in 2011). Imports' share of the light truck market was 15.2% last month, stable with all of last year.
The U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Jan | Dec | Nov | Y/Y % | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Total | 14.18 | 13.56 | 13.63 | 11.7 | 12.78 | 11.58 | 10.38 |
| Autos | 7.42 | 6.52 | 6.66 | 20.4 | 6.24 | 5.79 | 5.45 |
| Domestic | 5.00 | 4.20 | 4.36 | 19.5 | 4.22 | 3.78 | 3.56 |
| Imported | 2.42 | 2.32 | 2.30 | 22.1 | 2.02 | 2.00 | 1.89 |
| Light Trucks | 6.76 | 7.04 | 6.97 | 3.6 | 6.54 | 5.79 | 4.93 |
| Domestic | 5.73 | 6.04 | 5.98 | 4.5 | 5.55 | 4.84 | 3.96 |
| Imported | 1.03 | 1.00 | 1.00 | -1.1 | 1.00 | 0.96 | 0.97 |
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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