Global| Jan 04 2008U.S. Vehicle Sales Tick Up in December, Down in 2007
by:Tom Moeller
|in:Economy in Brief
Summary
U.S. sales of light vehicles rose all of 0.4% last month to a 16.27M unit annual selling rate, according to the Autodata Corporation. The uptick followed a 0.9% increase during November. These recent upticks left sales for the year [...]
U.S. sales of light vehicles rose all of 0.4% last month to a 16.27M unit annual selling rate, according to the Autodata Corporation. The uptick followed a 0.9% increase during November. These recent upticks left sales for the year down 2.2% from 2006 when sales fell 2.5% from 2005.
Sales of domestically made light vehicles fell 0.6% last month after a 1.0% November rise. For the full year domestically made vehicle sales fell 4.2%, a decline similar to the 5.9% drop in 2006. Sales of U.S. made cars fell 4.8% last month and were down 4.5% for the year. Sales of domestically made light trucks, however, rose 2.9% in December and made up a small part of the prior three months' decline. For the year sales of domestically made light trucks fell 4.0% on top of an 8.7% 2006 decline.
Sales of imported light vehicles rose 3.6% last month for the fourth consecutive monthly increase. The rise to 4.14M units was to the new record level. Last month's increase was due to a 4.7% gain in sales of imported autos. A 1.7% rise in sales of imported light trucks lifted sales 8.2% for the full year.
Import's share of the U.S. light vehicle market rose to a near record 25.4% during December. The rise in import's share for all of 2007 to 24.6% was a new record for any year.
Today's speech by Fed Vice ChairmanDonald L. Kohn At the American Economic Association Session can be found here.
Stock Prices and Business Investment from the Federal eserve Bank of Philadelphia is available here.
| Light Vehicle Sales (SAAR, Mil. Units) | December | November | Y/Y | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| Total | 16.27 | 16.20 | 0.4% | 16.18 | 16.55 | 16.96 |
| Autos | 7.82 | 7.97 | -1.8% | 7.58 | 7.77 | 7.65 |
| Domestic | 5.21 | 5.47 | -2.4% | 5.07 | 5.31 | 5.40 |
| Imported | 2.62 | 2.50 | -0.6% | 2.51 | 2.45 | 2.25 |
| Light Trucks | 8.44 | 8.22 | -2.4% | 8.60 | 8.78 | 9.32 |
| Domestic | 6.92 | 6.73 | -3.2% | 7.12 | 7.42 | 8.12 |
| Imported | 1.52 | 1.49 | 1.8% | 1.48 | 1.37 | 1.20 |
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.
More Economy in Brief
