Haver Analytics
Haver Analytics
| Jun 01 2023

U.S. Light Vehicle Sales Decline in May

  • Light truck sales lead latest downturn.
  • Imports' market share eases.

The Autodata Corporation reported that light vehicle sales during May fell 6.0% (+18.9% y/y) to 15.14 million units (SAAR) following a 7.4% rise during April. Despite the decline, sales remain in an uptrend since a low of 12.38 million in September of 2021.

Sales of light trucks declined 6.3% (+20.1% y/y) during May to 11.96 million units after increasing 6.8% in April. Purchases of domestically-made light trucks weakened 5.5% (+19.5% y/y) to 9.38 million units after rising 5.6% in April . Sales of imported light trucks fell 8.8% (+21.7% y/y) to 2.58 million units after improving 11.0% during April.

Trucks' share of the light vehicle market eased to 79.0% last month from 79.3%.

Auto sales fell 4.8% (+14.8% y/y) last month to 3.18 million units following a 9.5% April increase. Purchases of domestically-produced cars declined 5.7% (+20.9% y/y) to 2.31 million units after rising 11.4% in April. Sales of imported autos weakened 2.2% (+1.2% y/y) to 0.87 million after strengthening 6.0% in April.

Imports' share of the U.S. vehicle market slipped last month to 22.7% from 23.1% in April. Imports' share of the passenger car market rose to 27.4% in May from 26.7% in April. Imports' share of the light truck market eased to 21.6% in May from 22.2% in the prior month.

U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.

  • 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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