Global| Dec 03 2013U.S. Vehicle Sales Surge to Seven-Year High
by:Tom Moeller
|in:Economy in Brief
Summary
Car & truck dealerships were a busy place during November. Unit sales of light motor vehicles jumped 7.7% (7.1% y/y) versus October to 16.41 million (SAAR), according to the Autodata Corporation. The latest level of sales was the [...]
Car & truck dealerships were a busy place during November. Unit sales of light motor vehicles jumped 7.7% (7.1% y/y) versus October to 16.41 million (SAAR), according to the Autodata Corporation. The latest level of sales was the highest since February 2007.
Sales of light trucks were notably firm last month as they increased 8.8% m/m to 8.27 million units (10.7% y/y). Strongest were domestic light truck sales which posted a 9.2% m/m gain to 7.09 million units (9.4% y/y). Sales of imported light trucks also logged a firm 6.0% rise to 1.19 million units (18.7% y/y).
The strength in auto purchases was nearly as impressive. The 6.7% increase to 8.14 million units (3.8% y/y) reflected an 11.0% rise in sales of imports to 2.48 million units (3.2% y/y). Domestic car sales were not far behind with a 4.9% gain to 5.66 million units (4.0% y/y).
Imports share of the U.S. light vehicle market last month ticked higher m/m to 22.3%. (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 increased m/m to 30.4% and remained down from its 37.6% monthly peak in 2010. Imports' share of the light truck market slipped m/m to 14.3%.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Nov | Oct | Sep | Y/Y % | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total | 16.41 | 15.23 | 15.28 | 7.1 | 14.49 | 12.78 | 11.59 |
| Autos | 8.14 | 7.63 | 7.72 | 3.8 | 7.42 | 6.23 | 5.77 |
| Domestic | 5.66 | 5.40 | 5.35 | 4.0 | 5.10 | 4.21 | 3.76 |
| Imported | 2.48 | 2.23 | 2.37 | 3.2 | 2.32 | 2.02 | 2.01 |
| Light Trucks | 8.27 | 7.61 | 7.56 | 10.7 | 7.08 | 6.55 | 5.82 |
| Domestic | 7.09 | 6.49 | 6.46 | 9.4 | 6.10 | 5.55 | 4.86 |
| Imported | 1.19 | 1.12 | 1.10 | 18.7 | 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.
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