Global| Jun 01 2012U.S. Vehicle Sales Fall To Lowest This Year
by:Tom Moeller
|in:Economy in Brief
Summary
It was a further give-back from last year's strength. Unit sales of light motor vehicles during May fell 4.4% from April to 13.78M (SAAR), according to Autodata Corporation. Sales have fallen meaningfully in two of the last three [...]
It was a further give-back from last year's strength. Unit sales of light motor vehicles during May fell 4.4% from April to 13.78M (SAAR), according to Autodata Corporation. Sales have fallen meaningfully in two of the last three months to the lowest level since December. Nevertheless, sales were up 17.5% y/y. The latest was short of the Consensus estimate for 14.4M sales, according to Bloomberg.
Auto sales dropped 8.2% m/m (+18.7% y/y) to 6.86M. Domestic car sales fell 6.1% to 4.66M (+19.8% y/y) and imports fell 12.2% (+16.5% y/y) to 2.20M. Light truck sales slipped 0.4% (+16.3% y/y) to 6.92M. Domestic truck purchases fell 0.7% (+17.3% y/y) to 5.92M while sales of imported light trucks rose 0.9% (10.9% y/y) to 0.99M.
Imports' share of the U.S. light vehicle market slipped to 23.2% in May, Down slightly from twelve months earlier. (Imported vehicles are those produced outside the United States.) That share was, however, down from its peak of 29.9% in Q1'09. The lower foreign exchange value of the dollar played a role as it made imports relatively more expensive. Imports' share of the U.S. car market fell m/m to 32.0%, its lowest in nine months, and was down from its 38.1% peak. Imports' share of the light truck market ticked up to 14.4% last month, down from its 23.9% peak in early '09.
The U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | May | Apr | Mar | Y/Y % | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Total | 13.78 | 14.42 | 14.37 | 17.5 | 12.78 | 11.58 | 10.38 |
| Autos | 6.86 | 7.47 | 7.64 | 18.7 | 6.24 | 5.79 | 5.45 |
| Domestic | 4.66 | 4.96 | 5.14 | 19.8 | 4.22 | 3.78 | 3.56 |
| Imported | 2.20 | 2.50 | 2.50 | 16.5 | 2.02 | 2.00 | 1.89 |
| Light Trucks | 6.92 | 6.95 | 6.73 | 16.3 | 6.54 | 5.79 | 4.93 |
| Domestic | 5.92 | 5.96 | 5.72 | 17.3 | 5.55 | 4.84 | 3.96 |
| Imported | 0.99 | 0.99 | 1.01 | 10.9 | 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.
